Guideline Value for Cathedral Garden Lane

Cathedral Garden Lane guideline value

The current guideline value of Cathedral Garden Lane is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Cathedral Garden Lane has changed

In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft. The most recent 2024 revision has increased this value to Rs 8,700 per sq.ft, marking a change of +9%. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

As a result, the guideline value has seen an increase from Rs 8,000 in 2023 to Rs 8,700 in 2024. This change reflects the adjustments made in the guideline values across various streets in the area.

Guideline values in Mylapore Part 1

Within Mylapore Part 1, there are 333 streets 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 for these streets is Rs 8,800 per sq.ft, indicating that Cathedral Garden Lane's 2024 figure is below this median.

• Cathedral Garden Road: Rs 13,200 per sq.ft (2024)
• Cathedral Salai: Rs 20,900 per sq.ft (2024)
• Cenatoph 1st Lane: Rs 15,400 per sq.ft (2024)
• Cenatoph 1st Street: Rs 15,400 per sq.ft (2024)
• Cenatoph 2nd Lane: Rs 15,400 per sq.ft (2024)
• Cenatoph 2nd Lane cross Street: Rs 15,400 per sq.ft (2024)

Stamp duty and registration fee for property in Cathedral Garden Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, resulting in a total of Rs 7,83,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Cathedral Garden Lane?

The Sub Registrar Office that covers Cathedral Garden Lane 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 the registration of property transactions in Mylapore Part 1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value helps determine the amount payable to the government. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Cathedral Garden Lane?

The current guideline value of Cathedral Garden Lane is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a change of +9%.

What is the land classification for Cathedral Garden Lane?

Cathedral Garden Lane is classified as Residential Class I Type - III under the Chennai Central Joint I SRO.

Where can I find the registration office for Cathedral Garden Lane?

The registration office for Cathedral Garden Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Cathedral Garden Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 6,09,000 at a rate of 7%.