Guideline Value for BISHOP WALLERS AVENUE EAST

Bishop Wallers Avenue East guideline value

The current guideline value of Bishop Wallers Avenue East is Rs 16,500 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 I Type - I.

How the guideline value of Bishop Wallers Avenue East has changed

The guideline value for Bishop Wallers Avenue East has seen significant changes over the years. In 2002, the guideline value was Rs 2,443 per sq.ft, which increased to Rs 2,714 per sq.ft in 2003, marking an 11% rise. The value then saw a minor increase of 3% to Rs 2,800 per sq.ft in 2007. Following this, a substantial increase of 436% occurred, bringing the value to Rs 15,000 per sq.ft in 2012.

However, the value dropped by 33% to Rs 10,050 per sq.ft in 2017. The next revision in 2023 saw a significant increase of 49%, raising the value to Rs 15,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 16,500 per sq.ft, reflecting a 10% increase from the previous year.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values 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, positioning Bishop Wallers Avenue East above this median.

• Bishop Wallers Avenue South: Rs 16,500 per sq.ft (2024)
• Bishop Garden Street: Rs 25,300 per sq.ft (2024)
• Bishop Wallers Avenue West: Rs 16,500 per sq.ft (2024)
• Bishop Garden Extension: Rs 25,300 per sq.ft (2024)
• Boat Club Road: Rs 25,300 per sq.ft (2024)
• Boat Club Road 1st Avenue: Rs 25,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bishop Wallers Avenue East

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value would be Rs 1,65,00,000. The stamp duty at 7% would amount to Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, leading to a total of Rs 14,85,000. It is important to note that 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 Bishop Wallers Avenue East?

The Sub Registrar Office covering Bishop Wallers Avenue East 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 details.

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

The guideline value plays a crucial role during the registration process of property transactions in Mylapore. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are fairly assessed based on the established guideline values.

Frequently asked questions

What is the current guideline value for Bishop Wallers Avenue East?

The current guideline value for Bishop Wallers Avenue East is Rs 16,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,443 per sq.ft in 2002 to Rs 16,500 per sq.ft in 2024, reflecting an overall increase of 575% over this period.

What is the stamp duty for property in Bishop Wallers Avenue East?

The stamp duty for a property in Bishop Wallers Avenue East is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Bishop Wallers Avenue East located?

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

What are the other streets in Mylapore with similar guideline values?

Other streets in Mylapore include Bishop Wallers Avenue South and Bishop Wallers Avenue West, both with a guideline value of Rs 16,500 per sq.ft, and Bishop Garden Street, Bishop Garden Extension, Boat Club Road, and Boat Club Road 1st Avenue, all with higher values.