Guideline Value for Chamiers 2nd Lane

Chamiers 2nd Lane guideline value

The current guideline value of Chamiers 2nd Lane is Rs 8,700 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 Residential Class I Type - III.

How the guideline value of Chamiers 2nd Lane has changed

The guideline value for Chamiers 2nd Lane has seen a revision in 2024, where it increased to Rs 8,700 per sq.ft from Rs 8,000 per sq.ft in 2023, marking a change of +9%. The register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the last recorded figure was Rs 8,000 per sq.ft in 2023. The guideline value has not been documented for the years leading up to 2023, indicating a lack of available data for those periods.

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 guideline value in this area is Rs 8,800 per sq.ft, placing Chamiers 2nd Lane's 2024 figure below that median.

• Chamiers 1st Lane: Rs 8,700 per sq.ft (2024)
• Chamiers 3rd Lane: Rs 8,700 per sq.ft (2024)
• Chamiers 4th Lane: Rs 8,700 per sq.ft (2024)
• Chamiers Lane: Rs 8,700 per sq.ft (2024)
• Chamiers Road / Pasumpon: Rs 17,600 per sq.ft (2024)
• Cenatoph Road: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chamiers 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Chamiers 2nd Lane?

The Sub Registrar Office that covers Chamiers 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 during the registration of property transactions in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This helps maintain transparency in property dealings and ensures compliance with the regulatory framework.

Frequently asked questions

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

The current guideline value of Chamiers 2nd Lane is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value changed from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting an increase of +9%.

What is the registration office for Chamiers 2nd Lane?

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

What are the stamp duty rates applicable?

The stamp duty rate applicable is 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.

What is the median guideline value in Mylapore Part 2?

The median guideline value in Mylapore Part 2 is Rs 8,800 per sq.ft, with Chamiers 2nd Lane's guideline value being below this median.