Guideline Value for Gowdia Mutt Lane

Gowdia Mutt Lane guideline value

The current guideline value of Gowdia Mutt Lane is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 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 Gowdia Mutt Lane has changed

The guideline value for Gowdia Mutt Lane has undergone revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 12,000 per sq.ft, which increased by 10% to Rs 13,200 per sq.ft in the 2024 revision.

This change reflects a significant adjustment in the valuation of properties on this street, aligning it with the current market conditions as assessed by the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

Mylapore Part 1 features a range of guideline values, with 333 streets under the Chennai Central Joint I SRO carrying a 2024 figure 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, placing Gowdia Mutt Lane's 2024 figure above this median.

• Gowdia Mutt Road: Rs 13,200 per sq.ft (2024)
• Goverthan Singh Street: Rs 8,700 per sq.ft (2024)
• Gopalapuram 8th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 7th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 6th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 5th Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gowdia Mutt Lane

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. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gowdia Mutt Lane?

The Sub Registrar Office that covers Gowdia Mutt 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 further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value as per the government’s assessment.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Buyers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Gowdia Mutt Lane?

The current guideline value of Gowdia Mutt Lane 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, representing a 10% rise.

Are there any previous revisions for Gowdia Mutt Lane?

The register has no figure for Gowdia Mutt Lane for the years 2002, 2003, 2007, 2012, and 2017. The only available figures are from the 2023 and 2024 revisions.

What is the stamp duty rate for properties in Gowdia Mutt Lane?

The stamp duty rate for properties in Gowdia Mutt Lane is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for properties in Gowdia Mutt Lane?

The Chennai Central Joint I Sub Registrar Office handles registrations for properties in Gowdia Mutt Lane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.