Guideline Value for BOAT CLUB ROAD

Boat Club Road guideline value

The current guideline value of Boat Club Road, located in Mylapore village under the Mylapore SRO, is Rs 25,300 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Boat Club Road has changed

The guideline value for Boat Club Road has seen significant changes over the years. In 2002, the guideline value was Rs 2,198 per sq.ft. This increased to Rs 2,442 per sq.ft in 2003, marking an 11% rise. The value then saw an 84% increase to Rs 4,500 per sq.ft in 2007. Following this, the value surged by 411% to Rs 23,000 per sq.ft in 2012. However, it decreased by 33% to Rs 15,410 per sq.ft in 2017. The value then increased by 49% to Rs 23,000 per sq.ft in 2023, and most recently, it rose by 10% to the current rate of Rs 25,300 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 1051%. There are no figures available in the register for revisions in years other than those listed.

Guideline values in Mylapore

In Mylapore, 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, with a median value of Rs 8,800 per sq.ft. Boat Club Road's 2024 guideline value is significantly above this median.

• Boat Club Road 1st Avenue: Rs 25,300 per sq.ft (2024)
• Boat Club Road 2nd Avenue: Rs 25,300 per sq.ft (2024)
• Boat Club Road 3rd Avenue: Rs 25,300 per sq.ft (2024)
• Bishop Wallers Avenue West: Rs 16,500 per sq.ft (2024)
• Bishop Wallers Avenue South: Rs 16,500 per sq.ft (2024)
• Bishop Wallers Avenue East: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Boat Club Road

For a 1,000 sq.ft plot at the current guideline value of Rs 25,300 per sq.ft, the total guideline value amounts to Rs 2,53,00,000. The stamp duty at 7% would be Rs 17,71,000, and the registration fee at 2% would be Rs 5,06,000, totaling Rs 22,77,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Boat Club Road?

The Sub Registrar Office that covers Boat Club Road 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 critical component in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the buyer and seller must declare the sale price, and the stamp duty will be calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Boat Club Road?

The current guideline value of Boat Club Road is Rs 25,300 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 2,198 per sq.ft in 2002 to Rs 25,300 per sq.ft in 2024, marking an overall increase of 1051% over this period.

What are the stamp duty rates applicable in Mylapore?

The stamp duty rate in Mylapore is 7%, which is applied to the higher of the guideline value or the sale price of the property during registration.

Where is the Mylapore Sub Registrar Office located?

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

What is the land classification for Boat Club Road?

The land classification for Boat Club Road is Residential Special Type - I, indicating its designated use for residential purposes within the area.