Guideline Value for BISHOP WALLERS AVENUE SOUTH

Bishop Wallers Avenue South guideline value

The current guideline value of Bishop Wallers Avenue South 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 South has changed

The guideline value for Bishop Wallers Avenue South has undergone several revisions over the years. Starting from the 2002 revision, the value was set at Rs 1,394 per sq.ft. This increased to Rs 1,549 per sq.ft in 2003, marking an increase of 11%. The value saw a significant jump to Rs 2,365 per sq.ft in 2007, which was a rise of 53%. Following this, the value surged to Rs 15,000 per sq.ft in 2012, reflecting a remarkable increase of 534%. However, in the 2017 revision, the value decreased to Rs 10,050 per sq.ft, a decline of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 16,500 per sq.ft, which is an increase of 64% from the previous figure.

Overall, from the initial value in 2002 to the current value in 2024, there has been a substantial increase of 1084%. It is worth noting that there is no figure available for the year 2023 for this street in the register.

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, positioning Bishop Wallers Avenue South's 2024 figure above this median.

• Bishop Wallers Avenue East: Rs 16,500 per sq.ft (2024)
• Bishop Wallers Avenue West: Rs 16,500 per sq.ft (2024)
• Bishop Garden Street: Rs 25,300 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 South

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value amounts to Rs 1,65,00,000. The stamp duty at 7% would be Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, totaling Rs 14,85,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bishop Wallers Avenue South?

The Sub Registrar Office that covers Bishop Wallers Avenue South 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 plays a crucial role in the registration process of property transactions in Mylapore. It serves as the basis for calculating the stamp duty and registration fees that are payable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the registration process.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two values is used to determine the applicable stamp duty. This ensures that the government receives the appropriate revenue based on the property's value at the time of sale.

Frequently asked questions

What is the current guideline value of Bishop Wallers Avenue South?

The current guideline value of Bishop Wallers Avenue South 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 seen significant changes, increasing from Rs 1,394 per sq.ft in 2002 to Rs 16,500 per sq.ft in 2024, which is an overall increase of 1084%.

What is the land classification of Bishop Wallers Avenue South?

Bishop Wallers Avenue South is classified as Residential Class I Type - I under the Mylapore SRO.

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

The Sub Registrar Office for Bishop Wallers Avenue South 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 1,65,00,000, the total stamp duty and registration fees would amount to Rs 14,85,000.