Guideline Value for CHANDA SAHIB STREET

Chanda Sahib Street guideline value

The current guideline value of Chanda Sahib Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO, classified as Residential Class V Type - III.

How the guideline value of Chanda Sahib Street has changed

Over the years, the guideline value of Chanda Sahib Street has seen significant changes. In 2002, the guideline value was Rs 612 per sq.ft, which increased to Rs 680 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 900 per sq.ft in 2007, reflecting a 32% increase. Following this, the value surged to Rs 3,000 per sq.ft in 2012, representing a substantial increase of 233%. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The guideline value then increased to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 439%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Chanda Sahib Street's current guideline value is below this median.

• Chandirasekaran Street: Rs 8,800 per sq.ft (2024)
• Chamiers Road (P.M.D. Salai): Rs 17,600 per sq.ft (2024)
• Chandrabaugh Avenue: Rs 13,200 per sq.ft (2024)
• Chandrabaugh Avenue 1st Street: Rs 13,200 per sq.ft (2024)
• Chandrabaugh Avenue 2nd Street: Rs 13,200 per sq.ft (2024)
• Chavali Avenue: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chanda Sahib Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chanda Sahib Street?

The Sub Registrar Office that covers Chanda Sahib Street 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 calculating stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Chanda Sahib Street?

The current guideline value of Chanda Sahib Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 612 per sq.ft in 2002 and reaching Rs 3,300 per sq.ft in 2024, an overall increase of 439%.

What is the land classification of Chanda Sahib Street?

Chanda Sahib Street is classified as Residential Class V Type - III under the Mylapore SRO.

Where can I find the Sub Registrar Office for Chanda Sahib Street?

The Sub Registrar Office for Chanda Sahib Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 33,00,000, the stamp duty would be calculated at 7% of this amount.