Guideline Value for Gowdia Mutt Road

Gowdia Mutt Road guideline value

The current guideline value of Gowdia Mutt Road 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 Road has changed

The guideline value for Gowdia Mutt Road has seen changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 12,000 per sq.ft, which was then increased by 10% to Rs 13,200 per sq.ft in the 2024 revision.

In summary, the guideline value increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024. This reflects a significant change in the value assigned to this street within the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

Mylapore Part 1 consists of 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, making the 2024 figure for Gowdia Mutt Road above this median.

• Gowdia Mutt Lane: 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 Road

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 to 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.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Gowdia Mutt Road?

The Sub Registrar Office that covers Gowdia Mutt Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For further details, you can find your SRO.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Mylapore Part 1. It serves as a reference point for determining the stamp duty and registration fees that need to be paid.

When a property transaction occurs, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Gowdia Mutt Road?

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

How has the guideline value changed over the years?

The guideline value increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Gowdia Mutt Road?

The land classification for Gowdia Mutt Road is Commercial Special Type - III, indicating its designated use within the area.

Where can I find the Sub Registrar Office for Gowdia Mutt Road?

The Sub Registrar Office for Gowdia Mutt Road is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 at 7%.