Guideline Value for GAJAPATHI LALA 1ST LANE

Gajapathi Lala 1st Lane guideline value

The current guideline value of Gajapathi Lala 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - II.

How the guideline value of Gajapathi Lala 1st Lane has changed

Looking at the revisions over the years, the guideline value for Gajapathi Lala 1st Lane has seen several changes. The 2012 revision set the value at Rs 4,500 per sq.ft, which then decreased to Rs 3,015 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 4,500 per sq.ft, and the latest 2024 revision saw a further increase to Rs 4,900 per sq.ft, marking a 9% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. However, from 2012 to 2017, the value dropped by 33%. Overall, the guideline value has increased by 9% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Gajapathi Lala 1st Lane's 2024 figure is below this median.

• Gajapathi Lala 2nd Lane: Rs 4,900 per sq.ft (2024)
• Gajapathi Lala Street: Rs 7,100 per sq.ft (2024)
• Ganapathi Colony: Rs 8,800 per sq.ft (2024)
• Ganasapuram North Lane: Rs 4,900 per sq.ft (2024)
• Ganasapuram South Lane: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gajapathi Lala 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Gajapathi Lala 1st Lane?

The Sub Registrar Office that covers Gajapathi Lala 1st Lane is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore

The guideline value plays a crucial role during the registration of property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the guideline value for their specific property to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gajapathi Lala 1st Lane?

The current guideline value of Gajapathi Lala 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then increased to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,900 per sq.ft in 2024.

What are the other streets in Mylapore with their guideline values?

Other streets in Mylapore include Gajapathi Lala 2nd Lane at Rs 4,900 per sq.ft, Gajapathi Lala Street at Rs 7,100 per sq.ft, Ganapathi Colony at Rs 8,800 per sq.ft, Ganasapuram North Lane at Rs 4,900 per sq.ft, Ganasapuram South Lane at Rs 3,300 per sq.ft, and Gandhi Nagar at Rs 3,300 per sq.ft.

What is the stamp duty and registration fee for a property in Gajapathi Lala 1st Lane?

The stamp duty for a property valued at Rs 49,00,000 would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office covers Gajapathi Lala 1st Lane for registration?

The Mylapore Sub Registrar Office covers Gajapathi Lala 1st Lane, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.