Guideline Value for Boat Club Road 2nd Avenue

Boat Club Road 2nd Avenue guideline value

The current guideline value of Boat Club Road 2nd Avenue is Rs 25,300 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 Special Type - I.

How the guideline value of Boat Club Road 2nd Avenue has changed

The guideline value for Boat Club Road 2nd Avenue has seen significant changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 23,000 per sq.ft, which increased by 10% to Rs 25,300 per sq.ft in the 2024 revision.

This increase reflects the adjustments made in the guideline values as per the revisions. The 2024 figure of Rs 25,300 per sq.ft is the highest recorded for this street in the available revisions.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets listed under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Boat Club Road 2nd Avenue above this median value.

• Boat Club Road 1st Avenue: Rs 25,300 per sq.ft (2024)
• Boat Club Road 3rd Avenue: Rs 25,300 per sq.ft (2024)
• Boat Club Road: Rs 25,300 per sq.ft (2024)
• Binny Salai: Rs 17,500 per sq.ft (2024)
• Cathedral Garden Lane: Rs 8,700 per sq.ft (2024)
• Cathedral Garden Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Boat Club Road 2nd Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 25,300 per sq.ft, the total guideline value would be Rs 2,53,00,000. The stamp duty at 7% would amount to Rs 17,71,000, and the registration fee at 2% would be Rs 5,06,000, bringing the total to 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.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Boat Club Road 2nd Avenue?

The Sub Registrar Office that covers Boat Club Road 2nd Avenue is 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 crucial factor during property registration in Mylapore Part 1. It determines the minimum value at which a property can be registered, ensuring that the government collects appropriate stamp duties and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for transactions. It is essential for both buyers and sellers to be aware of this value to understand the financial implications during the registration process.

Frequently asked questions

What is the current guideline value of Boat Club Road 2nd Avenue?

The current guideline value of Boat Club Road 2nd Avenue is Rs 25,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There have been several revisions, with the most recent being in 2024, where the value increased from Rs 23,000 per sq.ft in 2023 to Rs 25,300 per sq.ft. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft. Boat Club Road 2nd Avenue's guideline value is above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 2,53,00,000, the stamp duty would be Rs 17,71,000, and the registration fee would be Rs 5,06,000, totaling Rs 22,77,000. Duty is charged on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Boat Club Road 2nd Avenue?

The Sub Registrar Office for Boat Club Road 2nd Avenue is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more details through the provided link.