Guideline Value for Beerkaran Lane 2nd Cross Street

Beerkaran Lane 2nd Cross Street guideline value

The current guideline value of Beerkaran Lane 2nd Cross Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Beerkaran Lane 2nd Cross Street has changed

The guideline value for Beerkaran Lane 2nd Cross Street has undergone revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 7,000 per sq.ft. This increased by 10% to Rs 7,700 per sq.ft in the 2024 revision.

To summarize the changes: from 2023 to 2024, the guideline value increased from Rs 7,000 to Rs 7,700 per sq.ft. This reflects a significant adjustment in the valuation of properties in this area.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Beerkaran Lane 2nd Cross Street's 2024 figure below this median.

• Beerkaran 3rd Cross Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 2nd Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 1st Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 1st Cross Street: Rs 7,700 per sq.ft (2024)
• Bazaar Road (Royapettah) Gowdia Mutt Road: Rs 13,200 per sq.ft (2024)
• Besant Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Beerkaran Lane 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, making the total cost for these charges Rs 6,93,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Beerkaran Lane 2nd Cross Street?

The Beerkaran Lane 2nd Cross Street is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical factor in the registration process for property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Beerkaran Lane 2nd Cross Street?

The current guideline value of Beerkaran Lane 2nd Cross Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Beerkaran Lane 2nd Cross Street?

The land classification for Beerkaran Lane 2nd Cross Street is Residential Class II Type - I. This classification is important for understanding the zoning and permissible uses of the property.

What are the stamp duty and registration fees for this property?

The stamp duty for a property valued at Rs 77,00,000 would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Beerkaran Lane 2nd Cross Street?

The Chennai Central Joint I Sub Registrar Office covers Beerkaran Lane 2nd Cross Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.