Guideline Value for Cenatoph 2nd Street

Cenatoph 2nd Street guideline value

The current guideline value of Cenatoph 2nd Street is Rs 15,400 per sq.ft, effective from 1 July 2024. This street is located in the 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 2nd Street has changed

The guideline value for Cenatoph 2nd Street has undergone several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 14,000 per sq.ft. This figure increased by 10% to Rs 15,400 per sq.ft in the 2024 revision.

Thus, the changes between the revisions indicate a significant increase in the guideline value from 2023 to 2024. The current value reflects the ongoing adjustments in property valuations within the area.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 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 guideline value for these streets is Rs 8,800 per sq.ft, making the 2024 figure for Cenatoph 2nd Street above this median.

• Cenatoph 2nd Lane cross Street: Rs 15,400 per sq.ft (2024)
• Cenatoph Road: Rs 17,600 per sq.ft (2024)
• Cenatoph 2nd Lane: Rs 15,400 per sq.ft (2024)
• Cenatoph 1st Street: Rs 15,400 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 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 charges to Rs 13,86,000. 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 Cenatoph 2nd Street?

The Sub Registrar Office that covers Cenatoph 2nd 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 details.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor during property registration in Mylapore Part 2. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the charges reflect the official valuation of the property.

When buying or selling property, the guideline value helps in determining the legal and financial obligations associated with the transaction. It is essential for both buyers and sellers to be aware of this value to facilitate a smooth registration process.

Frequently asked questions

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

The current guideline value of Cenatoph 2nd 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 Street has changed from Rs 14,000 per sq.ft in 2023 to Rs 15,400 per sq.ft in 2024, representing a 10% increase. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Cenatoph 2nd Street?

The land classification for Cenatoph 2nd Street is Commercial Special Type - II, which indicates its use for commercial purposes.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Cenatoph 2nd Street is 7%, while the registration fee is 2%. These charges are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Sub Registrar Office covering Cenatoph 2nd Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, under the Chennai Central Joint I SRO.