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 2 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

The guideline value register for Cenatoph 2nd Lane has not provided figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show a significant increase from Rs 14,000 per sq.ft in 2023 to Rs 15,400 per sq.ft in 2024, marking a 10% increase.

Prior to the 2023 revision, the register has no figures for this street. The 2024 guideline value of Rs 15,400 per sq.ft indicates a notable rise in the property's valuation compared to the previous year.

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 guideline value in this area is Rs 8,800 per sq.ft, and Cenatoph 2nd Lane's 2024 figure is above this 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, resulting in a total of 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?

The Sub Registrar Office covering 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 2

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore Part 2. It serves as the benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction is registered at a value that reflects the current market conditions. This helps in maintaining transparency and fairness in property transactions.

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 has the guideline value changed over the years?

The guideline value has increased from Rs 14,000 per sq.ft in 2023 to Rs 15,400 per sq.ft in 2024, which is a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Cenatoph 2nd Lane?

Cenatoph 2nd Lane is classified as Commercial Special Type - II. This classification affects the guideline value and potential uses of the property.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 13,86,000.

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

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