Guideline Value for Cenatoph 2nd Lane

Cenatoph 2nd Lane guideline value

The current guideline value of Cenatoph 2nd Lane is Rs 15,400 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, and is classified as Commercial Special Type - II.

How the guideline value of Cenatoph 2nd Lane has changed

In the 2023 revision, the guideline value for Cenatoph 2nd Lane was Rs 14,000 per sq.ft. The change from 2023 to 2024 reflects an increase of 10%, resulting in the current value of Rs 15,400 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, there are no available figures in the register for Cenatoph 2nd Lane for the years mentioned. Thus, the guideline value has seen a notable increase from the previous revision to the current one.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 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 guideline value for these streets is Rs 8,800 per sq.ft, making the current value of Cenatoph 2nd Lane above that median.

• Cenatoph 1st Street: Rs 15,400 per sq.ft (2024)
• Cenatoph 2nd Lane cross Street: Rs 15,400 per sq.ft (2024)
• Cenatoph 1st Lane: 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 2nd Lane

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

Which Sub Registrar Office covers Cenatoph 2nd Lane?

The Sub Registrar Office that covers Cenatoph 2nd 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 1

The guideline value is a crucial reference point for property transactions in Mylapore Part 1. It determines the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps to establish a baseline for negotiations. Buyers should be aware that the final sale price may exceed the guideline value, impacting the total costs associated with the transaction.

Frequently asked questions

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

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

How much has the guideline value changed recently?

The guideline value increased 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?

Cenatoph 2nd Lane is classified as Commercial Special Type - II, which affects its guideline value and potential uses.

Where can I find the Sub Registrar Office for Cenatoph 2nd Lane?

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

How is stamp duty calculated for properties in Cenatoph 2nd Lane?

Stamp duty 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 a rate of 7%.