Guideline Value for Conronsmith (Road) Salai

Conronsmith (Road) Salai guideline value

The current guideline value of Conronsmith (Road) Salai is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, and is classified as Commercial Special Type - III.

How the guideline value of Conronsmith (Road) Salai has changed

According to the guideline value register, the revisions for Conronsmith (Road) Salai have been recorded for the years 2023 and 2024. In 2023, the guideline value was Rs 12,000 per sq.ft. The 2024 revision shows an increase of 10%, bringing the value to Rs 13,200 per sq.ft.

For the years 2002, 2003, 2007, 2012, and 2017, the register has no figure for this street. The absence of figures indicates that there were no recorded changes in the guideline value during those years.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 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 value is Rs 8,800 per sq.ft, and Conronsmith (Road) Salai's 2024 figure is above this median.

• Co-Operative Colony: Rs 14,300 per sq.ft (2024)
• Corporation Colony 1st Street: Rs 7,700 per sq.ft (2024)
• Corporation Colony 2st Street: Rs 7,700 per sq.ft (2024)
• Damodaram Street: Rs 13,200 per sq.ft (2024)
• Chockalingam Nagar: Rs 14,300 per sq.ft (2024)
• Chockalingam Main Road: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Conronsmith (Road) Salai

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Conronsmith (Road) Salai?

The Sub Registrar Office that covers Conronsmith (Road) Salai 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 1

The guideline value plays a crucial role in property transactions in Mylapore Part 1. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price to determine the applicable duties. The higher value is used to calculate the stamp duty and registration fees, ensuring that the transaction reflects the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Conronsmith (Road) Salai?

The current guideline value of Conronsmith (Road) Salai is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Conronsmith (Road) Salai?

Conronsmith (Road) Salai is classified as Commercial Special Type - III. This classification can affect the types of developments allowed in the area.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Conronsmith (Road) Salai is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 1,32,00,000 would incur a stamp duty of Rs 9,24,000 at a rate of 7%.