Guideline Value for Cenatoph 1st Lane

Cenatoph 1st Lane guideline value

The current guideline value of Cenatoph 1st Lane is Rs 15,400 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 - II.

How the guideline value of Cenatoph 1st Lane has changed

Over the years, the guideline value for Cenatoph 1st Lane has seen several revisions. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 14,000 per sq.ft, which increased to Rs 15,400 per sq.ft in the 2024 revision, marking a change of +10%.

The most recent revision in 2024 reflects the current value, while the previous revision in 2023 shows a lower rate. This indicates a significant adjustment in the guideline value over the last year.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with 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 Cenatoph 1st Lane above this median.

• 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)
• Cenatoph 2nd Street: Rs 15,400 per sq.ft (2024)
• Cenatoph Road: Rs 17,600 per sq.ft (2024)
• Cathedral Salai: Rs 20,900 per sq.ft (2024)

Stamp duty and registration fee for property in Cenatoph 1st Lane

For a 1,000 sq.ft plot at the current rate of Rs 15,400 per sq.ft, the guideline value amounts to Rs 1,54,00,000. The stamp duty at 7% would be Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, totaling Rs 13,86,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Cenatoph 1st Lane?

The Sub Registrar Office that covers Cenatoph 1st 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 2

The guideline value serves as a benchmark for property transactions in Mylapore Part 2. It is used to determine the stamp duty and registration fees during the buying or selling process, ensuring that these costs are calculated fairly based on the current market standards.

When registering a property, the guideline value is crucial as it influences the overall cost of the transaction. Buyers and sellers must be aware of this value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Cenatoph 1st Lane?

The current guideline value of Cenatoph 1st Lane is Rs 15,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

Recently, the guideline value increased from Rs 14,000 per sq.ft in 2023 to Rs 15,400 per sq.ft in 2024, which is a change of +10%.

What is the land classification of Cenatoph 1st Lane?

The land classification for Cenatoph 1st Lane is Commercial Special Type - II.

Where can I find the Sub Registrar Office for Cenatoph 1st Lane?

The Sub Registrar Office for Cenatoph 1st 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 Cenatoph 1st Lane?

Stamp duty for properties in Cenatoph 1st Lane is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,54,00,000, the stamp duty would be Rs 10,78,000 at 7%.