Guideline Value

Corporate

Guideline Value for BAZAAR ROAD 2ND LANE

₹6000/sq.ft.

The guideline value for Bazaar Road 2nd Lane in Mylapore village (Mylapore SRO, Chennai zone) is Rs 6000 per sq.ft, effective 1 July 2024. It was Rs 5500 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Class V Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Mylapore

Village

Mylapore

SRO

Residential Class V Type - I
History
Period Guideline Value
From 1-7-2024 ₹6000 /sq.ft.
From 1-4-2023 ₹5500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3685 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony ,cresent Street Alwarpet,chennai -600018
044-24640344
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bazaar Road 2nd Lane

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Bazaar Road 2nd Lane guideline value

The current guideline value of Bazaar Road 2nd Lane is Rs 6,000 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 - I.

How the guideline value of Bazaar Road 2nd Lane has changed

The guideline value for Bazaar Road 2nd Lane has seen several revisions over the years. The 2012 revision set the value at Rs 5,500 per sq.ft, which was followed by a decrease to Rs 3,685 per sq.ft in the 2017 revision. However, the value significantly increased to Rs 5,500 per sq.ft in the 2023 revision, and the most recent revision in 2024 raised it to Rs 6,000 per sq.ft, marking a 9% increase from the previous year.

In terms of percentage changes, the guideline value rose by 49% from 2017 to 2023, and there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore, 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, with a median value of Rs 8,800 per sq.ft. The guideline value of Bazaar Road 2nd Lane is below this median.

Stamp duty and registration fee for property in Bazaar Road 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total fees together to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bazaar Road 2nd Lane?

The Bazaar Road 2nd Lane falls under the jurisdiction of 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 details.

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

The guideline value is a crucial factor when registering property transactions in Mylapore. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives its due revenue from property transactions.

When buying or selling property, the guideline value is referenced to ascertain the appropriate fees. It is essential for buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bazaar Road 2nd Lane?

The current guideline value of Bazaar Road 2nd Lane is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2012 to Rs 3,685 per sq.ft in 2017, then back to Rs 5,500 per sq.ft in 2023, and finally to Rs 6,000 per sq.ft in 2024.

What is the land classification for Bazaar Road 2nd Lane?

Bazaar Road 2nd Lane is classified as Residential Class V Type - I under the Mylapore SRO.

Where can I find the Mylapore Sub Registrar Office?

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

How is stamp duty calculated for properties on Bazaar Road 2nd Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft would incur a total stamp duty of Rs 4,20,000.