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 2 village under the Chennai Central Joint I SRO, and it is classified as Commercial Special Type - III.

How the guideline value of Gowdia Mutt Lane has changed

According to the guideline value register, there are no figures available for Gowdia Mutt Lane for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 12,000 per sq.ft, which increased to Rs 13,200 per sq.ft in the 2024 revision, marking a change of +10%.

The latest revision in 2024 reflects a significant adjustment in the guideline value, indicating a notable increase from the previous year. The increase from Rs 12,000 to Rs 13,200 per sq.ft highlights the evolving valuation of properties in this area.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Gowdia Mutt Lane is 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 amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

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 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 the registration process when buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions within the region.

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 over the years?

The guideline value for Gowdia Mutt Lane was Rs 12,000 per sq.ft in 2023 and increased to Rs 13,200 per sq.ft in 2024, reflecting a change of +10%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Gowdia Mutt Lane?

Gowdia Mutt Lane is classified as Commercial Special Type - III, which indicates its zoning for commercial use within the area.

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

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000, and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Gowdia Mutt Lane?

The registration for Gowdia Mutt Lane is handled by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.