Guideline Value for BARBAR BRIDGE 1ST LANE

Barbar Bridge 1st Lane guideline value

The current guideline value for Barbar Bridge 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - II.

How the guideline value of Barbar Bridge 1st Lane has changed

The guideline value for Barbar Bridge 1st Lane has seen several revisions over the years. In 2012, the guideline value was set at Rs 4,500 per sq.ft. This figure then decreased to Rs 3,015 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 4,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 4,900 per sq.ft, marking a 9% rise from the previous year.

It is important to note that the register does not have figures for Barbar Bridge 1st Lane for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, indicating that Barbar Bridge 1st Lane's 2024 figure is below this median.

• Barbar Bridge 2nd Lane: Rs 4,900 per sq.ft (2024)
• Barbar Bridge 3rd Lane: Rs 4,900 per sq.ft (2024)
• Barbar Bridge 4th Lane: Rs 4,900 per sq.ft (2024)
• Baskarapuram: Rs 13,200 per sq.ft (2024)
• Batcha Garden II Lane: Rs 3,300 per sq.ft (2024)
• Batcha Garden I Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Barbar Bridge 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for stamp duty and registration fee would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Barbar Bridge 1st Lane?

The Sub Registrar Office that covers Barbar Bridge 1st Lane is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore

The guideline value is a crucial factor when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are levied based on this value.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees. This means that buyers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Barbar Bridge 1st Lane?

The current guideline value of Barbar Bridge 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then back to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,900 per sq.ft in 2024.

What is the land classification for Barbar Bridge 1st Lane?

Barbar Bridge 1st Lane is classified as Residential Class V Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Barbar Bridge 1st Lane is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is the stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,00,000, the stamp duty would be calculated at 7% of that amount.