Guideline Value for Boat Club Road 3rd Avenue

Boat Club Road 3rd Avenue guideline value

The current guideline value of Boat Club Road 3rd Avenue is Rs 25,300 per sq.ft. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, and it is classified as Residential Special Type - I.

How the guideline value of Boat Club Road 3rd Avenue has changed

The guideline value register for Boat Club Road 3rd Avenue has undergone several revisions. The most recent revision in 2024 set the value at Rs 25,300 per sq.ft, which reflects a significant increase from Rs 23,000 per sq.ft in the 2023 revision. This change represents a 10% increase from the previous year.

Prior to the 2023 revision, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street. Therefore, the first recorded figure for Boat Club Road 3rd Avenue is from the 2023 revision.

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 guideline value for this area is Rs 8,800 per sq.ft, placing Boat Club Road 3rd Avenue above this median.

• Boat Club Road 2nd Avenue: Rs 25,300 per sq.ft (2024)
• Boat Club Road 1st 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 3rd Avenue

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, bringing the total 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 detailed calculations.

Which Sub Registrar Office covers Boat Club Road 3rd Avenue?

The Sub Registrar Office that covers Boat Club Road 3rd Avenue is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, 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 crucial factor in property transactions in Mylapore Part 2, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 Boat Club Road 3rd Avenue?

The current guideline value of Boat Club Road 3rd Avenue is Rs 25,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 23,000 per sq.ft in 2023 to Rs 25,300 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Boat Club Road 3rd Avenue?

Boat Club Road 3rd Avenue is classified as Residential Special Type - I according to the local land classification guidelines.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Boat Club Road 3rd Avenue is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Boat Club Road 3rd Avenue?

The Sub Registrar Office for Boat Club Road 3rd Avenue is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.