Guideline Value for Cenatoph 2nd Lane cross Street

Cenatoph 2nd Lane cross Street guideline value

The current guideline value of Cenatoph 2nd Lane cross Street is Rs 15,400 per sq.ft. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - II.

How the guideline value of Cenatoph 2nd Lane cross Street has changed

The register has no figure for Cenatoph 2nd Lane cross Street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 14,000 per sq.ft. The most recent 2024 revision has increased this value to Rs 15,400 per sq.ft, which reflects a change of +10% from the previous year.

Thus, the guideline value has seen an increase from Rs 14,000 per sq.ft in 2023 to Rs 15,400 per sq.ft in 2024. This change indicates a significant adjustment in the valuation of properties in this area.

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 value for these streets is Rs 8,800 per sq.ft, making the 2024 figure for Cenatoph 2nd Lane cross Street above the median.

• Cenatoph 2nd Lane: Rs 15,400 per sq.ft (2024)
• Cenatoph 2nd Street: Rs 15,400 per sq.ft (2024)
• Cenatoph 1st Street: Rs 15,400 per sq.ft (2024)
• Cenatoph Road: Rs 17,600 per sq.ft (2024)
• Cenatoph 1st Lane: Rs 15,400 per sq.ft (2024)
• Cathedral Salai: Rs 20,900 per sq.ft (2024)

Stamp duty and registration fee for property in Cenatoph 2nd Lane cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 15,400 per sq.ft, the total 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, bringing the total costs to 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 2nd Lane cross Street?

The Sub Registrar Office that covers Cenatoph 2nd Lane cross Street 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 in the registration process when buying or selling property in Mylapore Part 1. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value helps in determining the official value of the property, which can affect the overall cost of the transaction. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Cenatoph 2nd Lane cross Street?

The current guideline value of Cenatoph 2nd Lane cross Street is Rs 15,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Cenatoph 2nd Lane cross Street has changed from Rs 14,000 per sq.ft in 2023 to Rs 15,400 per sq.ft in 2024, reflecting a 10% increase.

What is the land classification for Cenatoph 2nd Lane cross Street?

The land classification for Cenatoph 2nd Lane cross Street is Commercial Special Type - II, indicating its commercial usage potential.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Cenatoph 2nd Lane cross Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Mylapore Part 1?

Stamp duty for properties in Mylapore Part 1 is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 1,54,00,000 would incur a stamp duty of Rs 10,78,000 at 7%.