Guideline Value for G.N.Chetty Road

G.N.Chetty Road guideline value

The current guideline value of G.N.Chetty Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This road 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 G.N.Chetty Road has changed

According to the guideline value register, G.N.Chetty Road does not have recorded figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, which sets the guideline value at Rs 13,200 per sq.ft.

As there are no figures for the earlier revisions, we can only refer to the current 2024 figure. There have been no changes in the guideline value between the revisions listed above, and the current value is the only figure available 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 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft in the 2024 revision. The median guideline value for this area is Rs 8,800 per sq.ft, making G.N.Chetty Road's current value of Rs 13,200 per sq.ft above the median.

• G.N.Chetty Street: Rs 13,200 per sq.ft (2024)
• George Avenue: Rs 17,500 per sq.ft (2024)
• Gopalapuram 1st Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 2nd Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 3rd Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 4th Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in G.N.Chetty Road

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 is charged at 7%, amounting to Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000. Together, the total fees would be Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers G.N.Chetty Road?

The Sub Registrar Office that covers G.N.Chetty Road 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 when buying or selling property in Mylapore Part 2. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers should be aware that these costs can significantly impact the overall expense of a property transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties. This ensures that the registration process reflects the current market conditions and values associated with the property.

Frequently asked questions

What is the current guideline value of G.N.Chetty Road?

The current guideline value of G.N.Chetty Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There have been no recorded figures for G.N.Chetty Road in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 13,200 per sq.ft.

What are the stamp duty rates for properties in G.N.Chetty Road?

The stamp duty for properties in G.N.Chetty Road is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2%.

Where can I find the Sub Registrar Office for G.N.Chetty Road?

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

What is the median guideline value for Mylapore Part 2?

The median guideline value for Mylapore Part 2 is Rs 8,800 per sq.ft, with G.N.Chetty Road's current value of Rs 13,200 per sq.ft being above this median.