Guideline Value for BARBAR BRIDGE 2ND LANE

Barbar Bridge 2nd Lane guideline value

The current guideline value of Barbar Bridge 2nd 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 2nd Lane has changed

The guideline value for Barbar Bridge 2nd Lane has seen several revisions over the years. Starting with the 2002 revision, the value was set at Rs 612 per sq.ft. This increased to Rs 680 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 900 per sq.ft in 2007, which was a significant jump of 32%. Following this, the 2012 revision set the value at Rs 4,500 per sq.ft, a remarkable increase of 400% from the previous figure.

In the latest revision, effective from 1 July 2024, the guideline value stands at Rs 4,900 per sq.ft, reflecting a 9% increase from the 2012 figure. Overall, from the 2002 revision to the current 2024 value, there has been a substantial increase of 701%. It is important to note that the register has no figures for the years 2017 and 2023 for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that have 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, placing Barbar Bridge 2nd Lane's 2024 figure below that median.

• Barbar Bridge 1st 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 2nd 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, charged 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 these fees 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 details.

Which Sub Registrar Office covers Barbar Bridge 2nd Lane?

The Sub Registrar Office that covers Barbar Bridge 2nd Lane is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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 is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to accurately calculate these costs.

When a property is sold, the guideline value serves as a benchmark for the transaction. The registration office uses this value to ensure that the correct fees are collected, which is essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value for Barbar Bridge 2nd Lane?

The current guideline value for Barbar Bridge 2nd 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 increased from Rs 612 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting a total increase of 701% over the years.

What is the land classification for Barbar Bridge 2nd Lane?

Barbar Bridge 2nd Lane is classified as Residential Class V Type - II.

Where is the Sub Registrar Office for this area located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are 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 total fees would amount to Rs 4,41,000.