Guideline Value

Corporate

Guideline Value for BYEPASS ROAD (LIGHTHOUSE TO FORESHORE ESTATE)

₹6000/sq.ft.

The guideline value for Byepass Road (lighthouse To Foreshore Estate) 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 ₹900 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹587 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹528 /sq.ft.
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 Byepass Road (lighthouse To Foreshore Estate)

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Byepass Road (Lighthouse To Foreshore Estate) guideline value

The current guideline value of Byepass Road (Lighthouse To Foreshore Estate) 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 Byepass Road (Lighthouse To Foreshore Estate) has changed

The guideline value for Byepass Road has experienced several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 528 per sq.ft. This increased to Rs 587 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 900 per sq.ft, reflecting a 53% increase. However, in 2012, it saw a decrease to Rs 5,500 per sq.ft, which is a significant drop of 511% from the previous revision. The value then remained unchanged at Rs 5,500 per sq.ft until the 2017 revision, where it rose to Rs 3,685 per sq.ft, a 49% increase. The most recent revision in 2023 set the guideline value at Rs 5,500 per sq.ft, before the current value of Rs 6,000 per sq.ft was established in 2024, reflecting a 9% increase.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for the area is Rs 8,800 per sq.ft, indicating that the 2024 value for Byepass Road is below this median.

Stamp duty and registration fee for property in Byepass Road (Lighthouse To Foreshore Estate)

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, making the total cost for these fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Byepass Road (Lighthouse To Foreshore Estate)?

The Sub Registrar Office that covers Byepass Road (Lighthouse To Foreshore Estate) 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 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 during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Byepass Road (Lighthouse To Foreshore Estate)?

The current guideline value of Byepass Road (Lighthouse To Foreshore Estate) 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 528 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, showing an overall increase of 1,036% across the years.

What is the role of the Mylapore SRO?

The Mylapore SRO is responsible for maintaining the guideline value register and facilitating the registration of property transactions in the Mylapore area.

What fees are associated with property transactions in Byepass Road?

When registering property in Byepass Road, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price.

Where can I find more information about the Sub Registrar Office?

You can find more information about the Mylapore Sub Registrar Office, including its address and contact details, by visiting the link provided to find your SRO.