Guideline Value for Diwan Sahib Lane

Diwan Sahib Lane guideline value

The current guideline value of Diwan Sahib Lane is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Diwan Sahib Lane has changed

According to the register, there are no figures for Diwan Sahib Lane in the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 7,000 per sq.ft in the 2023 revision, which increased to Rs 7,700 per sq.ft in the 2024 revision, marking a change of +10%.

The current guideline value reflects the 2024 revision, which is the latest update available. The previous revision in 2023 was lower, indicating a rise in the guideline value for this street.

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. The median guideline value in this area is Rs 8,800 per sq.ft, and Diwan Sahib Lane's 2024 figure is below that median.

• Divan Sahib Street: Rs 7,700 per sq.ft (2024)
• Damodaram Street: Rs 13,200 per sq.ft (2024)
• Elango Salai: Rs 11,000 per sq.ft (2024)
• Corporation Colony 2st Street: Rs 7,700 per sq.ft (2024)
• Corporation Colony 1st Street: Rs 7,700 per sq.ft (2024)
• Eldams Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Diwan Sahib Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees together to Rs 6,93,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Diwan Sahib Lane?

The Sub Registrar Office that covers Diwan Sahib 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 plays a crucial role in property transactions in Mylapore Part 2. It is used to determine the stamp duty and registration fees applicable when buying or selling property, ensuring that these costs are based on the official valuation set by the Registration Department.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is transparent and follows the established legal framework.

Frequently asked questions

What is the current guideline value of Diwan Sahib Lane?

The current guideline value of Diwan Sahib Lane is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Diwan Sahib Lane was Rs 7,000 per sq.ft in 2023 and increased to Rs 7,700 per sq.ft in 2024, reflecting a 10% rise.

What are the other streets with guideline values in Mylapore Part 2?

Other streets in Mylapore Part 2 include Divan Sahib Street and Corporation Colony 2st Street, both at Rs 7,700 per sq.ft, and Damodaram Street at Rs 13,200 per sq.ft, among others.

Where can I find the Sub Registrar Office for Diwan Sahib Lane?

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

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, if the guideline value is Rs 77,00,000, the stamp duty would be calculated on this amount.