Guideline Value for Cathedral Garden Road

Cathedral Garden Road guideline value

The current guideline value of Cathedral Garden Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This road is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - III.

How the guideline value of Cathedral Garden Road has changed

The guideline value for Cathedral Garden Road has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 12,000 per sq.ft, which was then increased to Rs 13,200 per sq.ft in the 2024 revision, marking a change of +10%.

With the 2024 revision, the current guideline value stands at Rs 13,200 per sq.ft. This reflects a significant increase from the previous year's rate of Rs 12,000 per sq.ft, indicating a notable adjustment in the valuation of properties along this road.

Guideline values in Mylapore Part 1

In 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 in this area is Rs 8,800 per sq.ft, and Cathedral Garden Road's 2024 figure is above this median.

• Cathedral Garden Lane: Rs 8,700 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 Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cathedral Garden Road?

The Sub Registrar Office that covers Cathedral Garden Road 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 further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical component in property transactions in Mylapore Part 1, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is documented accurately.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. This value is updated periodically, reflecting changes in the real estate market and land use classifications.

Frequently asked questions

What is the current guideline value of Cathedral Garden Road?

The current guideline value of Cathedral Garden Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Cathedral Garden Road has changed from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, marking an increase of +10%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Cathedral Garden Road?

The land classification for Cathedral Garden Road is Commercial Special Type - III, which indicates the type of development permissible in this area.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,32,00,000, the stamp duty at 7% would be Rs 9,24,000.

Where is the Sub Registrar Office for Cathedral Garden Road located?

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