Guideline Value for BARBAR BRIDGE 3RD LANE

Barbar Bridge 3rd Lane guideline value

The current guideline value of Barbar Bridge 3rd 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 3rd Lane has changed

The guideline value for Barbar Bridge 3rd Lane has seen significant changes over the years. In 2002, the value was Rs 612 per sq.ft, which increased to Rs 680 per sq.ft in 2003, marking an 11% rise. By 2007, the value jumped to Rs 900 per sq.ft, reflecting a 32% increase. The next revision in 2012 saw a dramatic rise to Rs 4,500 per sq.ft, which was a 400% increase from the previous figure. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, a 9% increase from 2012.

It is important to note that the register has no figures for the years 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 701%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Barbar Bridge 3rd Lane's 2024 figure below that median.

• Barbar Bridge 1st Lane: Rs 4,900 per sq.ft (2024)
• Barbar Bridge 2nd 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 I Lane: Rs 3,300 per sq.ft (2024)
• Batcha Garden II Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Barbar Bridge 3rd 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, and the registration fee at 2% would be Rs 98,000, bringing the total charges to Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Barbar Bridge 3rd Lane?

The Sub Registrar Office that covers Barbar Bridge 3rd 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 in property transactions in Mylapore. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

When a property is sold, the guideline value serves as a benchmark for the transaction. It helps in assessing the legitimate value of the property, which can influence the overall costs involved in the buying or selling process.

Frequently asked questions

What is the current guideline value of Barbar Bridge 3rd Lane?

The current guideline value of Barbar Bridge 3rd 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, marking an overall increase of 701% over this period.

Which Sub Registrar Office covers this area?

The Mylapore Sub Registrar Office covers Barbar Bridge 3rd Lane, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What are the stamp duty and registration fees for properties here?

For a property valued at the current guideline value of Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Are there other streets with the same guideline value?

Yes, other streets in Mylapore, such as Barbar Bridge 1st Lane, 2nd Lane, and 4th Lane, also have a guideline value of Rs 4,900 per sq.ft as of 2024.