Guideline Value for Cathedral Salai

Cathedral Salai guideline value

The current guideline value of Cathedral Salai is Rs 20,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Cathedral Salai has changed

The guideline value for Cathedral Salai has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show a significant increase from Rs 19,000 per sq.ft in 2023 to Rs 20,900 per sq.ft in 2024, marking a change of +10%.

Prior to the 2023 revision, the last recorded value was Rs 19,000 per sq.ft. This increase reflects the current valuation trends for the area, with the 2024 guideline value now positioned higher than many other streets in the vicinity.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Cathedral Salai's 2024 figure above this median.

• Cathedral Garden Road: Rs 13,200 per sq.ft (2024)
• Cathedral Garden Lane: Rs 8,700 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 Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 20,900 per sq.ft, the total guideline value amounts to Rs 2,09,00,000. The stamp duty at 7% would be Rs 14,63,000, and the registration fee at 2% would be Rs 4,18,000, totaling Rs 18,81,000. 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 Salai?

The Cathedral Salai falls under the jurisdiction of 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 critical factor when registering property transactions in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and transparently, reflecting the current market conditions as assessed by the Registration Department.

Frequently asked questions

What is the current guideline value of Cathedral Salai?

The current guideline value of Cathedral Salai is Rs 20,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 19,000 per sq.ft in 2023 to Rs 20,900 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Cathedral Salai?

Cathedral Salai is classified as Commercial Special Type - I. This classification is important for understanding the potential uses of the property in this area.

What are the stamp duty and registration fees for property in Cathedral Salai?

For a property valued at Rs 2,09,00,000, the stamp duty would be Rs 14,63,000, and the registration fee would be Rs 4,18,000, totaling Rs 18,81,000. The duty is charged on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Cathedral Salai?

The Sub Registrar Office covering Cathedral Salai is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office handles the registration of property transactions in the area.