Guideline Value for Chitharanjan Lane

Chitharanjan Lane guideline value

The current guideline value of Chitharanjan Lane is Rs 15,400 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 Commercial Special Type - II.

How the guideline value of Chitharanjan Lane has changed

The guideline value for Chitharanjan Lane has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show an increase from Rs 14,000 per sq.ft in 2023 to Rs 15,400 per sq.ft in 2024, marking a 10% rise.

Before the 2023 revision, the guideline value for this street was not recorded in the register for the years listed. The 2024 revision reflects a significant increase, placing it above the median value of Rs 8,800 per sq.ft for Mylapore Part 2.

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. Chitharanjan Lane's 2024 figure is notably higher than the median of Rs 8,800 per sq.ft.

• Chittaranjan Salai: Rs 15,400 per sq.ft (2024)
• Chockalingam 1st Street: Rs 8,700 per sq.ft (2024)
• Chockalingam 2nd Street: Rs 8,700 per sq.ft (2024)
• Chockalingam Colony 1st Cross Street: Rs 8,700 per sq.ft (2024)
• Chockalingam Colony 2nd Cross Street: Rs 8,700 per sq.ft (2024)
• Chockalingam Main Road: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chitharanjan 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, bringing the total to Rs 13,86,000. Please note that 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 Chitharanjan Lane?

The Sub Registrar Office that covers Chitharanjan 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 an essential factor in property transactions, as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling property in Mylapore Part 2, the guideline value helps ensure that the transaction is recorded accurately in the registration office.

It is important for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost of the transaction. Understanding the guideline value can also assist in negotiations and planning for additional costs associated with property registration.

Frequently asked questions

What is the current guideline value of Chitharanjan Lane?

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

What is the land classification for Chitharanjan Lane?

The land classification for Chitharanjan Lane is Commercial Special Type - II, indicating its use for commercial purposes.

What are the stamp duty and registration fees for property in Chitharanjan Lane?

For a property valued at Rs 1,54,00,000, the stamp duty would be Rs 10,78,000 and the registration fee would be Rs 3,08,000, totaling Rs 13,86,000. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Chitharanjan Lane located?

The Sub Registrar Office for Chitharanjan Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office is part of the Chennai Central Joint I SRO.