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 2 village under the Chennai Central Joint I SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Cathedral Garden Lane has changed

According to the register, there are no figures available for Cathedral Garden Lane for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 8,000 per sq.ft, which was an increase from the previous revision. The most recent 2024 revision raised the guideline value to Rs 8,700 per sq.ft, reflecting a change of +9% from the 2023 figure.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that have a 2024 guideline value 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, placing Cathedral Garden Lane's 2024 figure below that 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 be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 2. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions. It is essential for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

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 has the guideline value changed over the years?

The guideline value for Cathedral Garden Lane was Rs 8,000 per sq.ft in 2023, which increased to Rs 8,700 per sq.ft in 2024, marking a change of +9%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Mylapore Part 2?

Other streets in Mylapore Part 2 have varying guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Cathedral Garden Lane's guideline value is below this median.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is charged at 2%. For example, for a 1,000 sq.ft property at the current rate, the total fees would amount to Rs 7,83,000.

Which office handles the registration for Cathedral Garden Lane?

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