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. This street is located in Mylapore Part 2 village, 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 several 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 23,000 per sq.ft, which increased to Rs 25,300 per sq.ft in the 2024 revision, reflecting a change of +10%.

This increase from the 2023 to the 2024 revision indicates a significant rise in the guideline value. The current value of Rs 25,300 per sq.ft is the highest recorded for this street in the available revisions.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 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 value for this area is Rs 8,800 per sq.ft, placing Boat Club Road 2nd Avenue's 2024 figure well above that median.

• 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 is 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, bringing the total cost for these fees to Rs 22,77,000. 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 precise calculations based on your specific property details.

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. To find more information about your specific SRO, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a critical factor in the registration process when buying or selling property in Mylapore Part 2. 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 used to calculate the applicable duties and fees. This ensures that all transactions are conducted transparently and in accordance with government regulations.

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 much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by +10%, from Rs 23,000 per sq.ft to Rs 25,300 per sq.ft.

What is the land classification for Boat Club Road 2nd Avenue?

Boat Club Road 2nd Avenue is classified as Residential Special Type - I, indicating its intended use for residential purposes.

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

The Sub Registrar Office covering Boat Club Road 2nd Avenue is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,53,00,000, the stamp duty would be calculated at 7% of that amount.