Guideline Value for CHANDIRASEKARAN STREET

Chandirasekaran Street guideline value

The current guideline value of Chandirasekaran Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Chandirasekaran Street has changed

The guideline value for Chandirasekaran Street has undergone several revisions over the years. In 2002, the value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,540 per sq.ft in 2007, a change of 59%. In 2012, the value was Rs 8,000 per sq.ft, reflecting a substantial increase of 419% from the 2007 figure. However, this value decreased to Rs 5,360 per sq.ft in 2017, a decline of 33%. The most recent revisions show that the value increased to Rs 8,000 per sq.ft in 2023, and then to Rs 8,800 per sq.ft in 2024, a rise of 10%.

There are no figures available for the years between these revisions for Chandirasekaran Street. Overall, from 2002 to 2024, the guideline value has increased by 909%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, which is equal to the 2024 figure for Chandirasekaran Street.

• Chanda Sahib Street: Rs 3,300 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)
• Chamiers Road (P.M.D. Salai): Rs 17,600 per sq.ft (2024)
• Chavali Avenue: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chandirasekaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. 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 details.

Which Sub Registrar Office covers Chandirasekaran Street?

The Sub Registrar Office that covers Chandirasekaran 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 for property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is legally compliant.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for completing the transaction. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Chandirasekaran Street?

The current guideline value of Chandirasekaran Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 872 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 909% over the years.

What is the land classification for Chandirasekaran Street?

Chandirasekaran Street is classified as Residential Class III Type - III under the Mylapore SRO.

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

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Where is the Sub Registrar Office located for Chandirasekaran Street?

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