Guideline Value for GOVT. QUARTERS II CLASS

Govt. Quarters II Class guideline value

The current guideline value for Govt. Quarters II Class is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Mylapore village under the Mylapore SRO, classified as Residential Class V Type - III.

How the guideline value of Govt. Quarters II Class has changed

The guideline value for Govt. Quarters II Class has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in the 2024 revision.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, then by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures available for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft as of 2024. The median value is Rs 8,800 per sq.ft, placing the guideline value for Govt. Quarters II Class below this median.

• Gowdia Madam Salai: Rs 13,200 per sq.ft (2024)
• Govinda Samy Nagar: Rs 7,700 per sq.ft (2024)
• Greenways Lane: Rs 17,600 per sq.ft (2024)
• Greenways Road Extension: Rs 17,600 per sq.ft (2024)
• Greenways Road (P.S. Kumaraswamy Salai): Rs 17,600 per sq.ft (2024)
• Gopathy Narayan Chetty Lane: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Govt. Quarters II Class

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Govt. Quarters II Class?

The Govt. Quarters II Class falls under the jurisdiction of the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Mylapore, as it determines the stamp duty and registration fees payable during the sale or purchase of a property. When registering a property, the guideline value is assessed to ensure that the transaction reflects the current market standards set by the government.

Frequently asked questions

What is the current guideline value for Govt. Quarters II Class?

The current guideline value for Govt. Quarters II Class is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the median guideline value for streets in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft as of 2024, with Govt. Quarters II Class being below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.