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 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - III.

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

The guideline value for Conronsmith (Road) Salai has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 13,200 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 12,000 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the guideline value had not been recorded for the years mentioned. The significant change from 2023 to 2024 indicates a growing valuation, but without figures from earlier years, we cannot assess the full historical context of the value changes.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a total of 332 streets under the Chennai Central Joint I SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. Conronsmith (Road) Salai's current value of Rs 13,200 per sq.ft is above the median value of Rs 8,800 per sq.ft for the area.

• 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 guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees together to 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 our stamp duty and registration fee calculator for further assistance.

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 2

The guideline value is a critical factor 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, ensuring that these costs are calculated based on the established values set by the Registration Department.

When engaging in a property transaction, the guideline value helps both buyers and sellers understand the financial implications of the sale. It is essential to be aware of the current guideline value to ensure compliance with local regulations and to accurately assess the costs involved in the transaction.

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 recently?

The guideline value increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, marking a 10% rise.

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

Conronsmith (Road) Salai is classified as Commercial Special Type - III, indicating its use for commercial purposes.

Which Sub Registrar Office should I approach for property transactions in this area?

You should approach the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, for property transactions related to Conronsmith (Road) Salai.

How is stamp duty calculated for properties in Mylapore Part 2?

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