Guideline Value for Chamiers 4th Lane

Chamiers 4th Lane guideline value

The current guideline value of Chamiers 4th Lane is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village, 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 4th Lane has changed

The guideline value register for Chamiers 4th Lane has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 8,700 per sq.ft, which is an increase of 9% from the 2023 revision figure of Rs 8,000 per sq.ft. Prior to 2023, there are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

In summary, the only two revisions with figures for Chamiers 4th Lane are from 2023 and 2024. The guideline value has risen from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024.

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 for this area is Rs 8,800 per sq.ft, placing Chamiers 4th Lane's 2024 figure below the median.

• Chamiers 3rd Lane: Rs 8,700 per sq.ft (2024)
• Chamiers Lane: Rs 8,700 per sq.ft (2024)
• Chamiers 2nd Lane: Rs 8,700 per sq.ft (2024)
• Chamiers Road / Pasumpon: Rs 17,600 per sq.ft (2024)
• Chamiers 1st Lane: Rs 8,700 per sq.ft (2024)
• Cenatoph Road: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chamiers 4th 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 cost for stamp duty and registration fees to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chamiers 4th Lane?

The Sub Registrar Office that covers Chamiers 4th 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Chamiers 4th Lane?

The current guideline value of Chamiers 4th Lane is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a 9% rise.

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, which is higher than the current value of Chamiers 4th Lane.

Where can I find the Sub Registrar Office for Chamiers 4th Lane?

The Sub Registrar Office for Chamiers 4th Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Chamiers 4th Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.