Guideline Value for LLOYDS ROAD 1ST STREET

Lloyds Road 1st Street guideline value

The current guideline value of Lloyds Road 1st Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Lloyds Road 1st Street has changed

The guideline value for Lloyds Road 1st Street has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 12,000 per sq.ft. This figure decreased to Rs 8,040 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the guideline value increased significantly to Rs 13,200 per sq.ft, representing a change of 64%.

Overall, when comparing the 2012 and 2024 revisions, the guideline value has seen a slight increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Lloyds Road 1st Street above this median.

• Lloyds Colony: Rs 11,500 per sq.ft (2024)
• Lloyds Road 2nd Street: Rs 8,800 per sq.ft (2024)
• LLOYDS ROAD (From RH Road to Dr.Natsan Road): Rs 11,500 per sq.ft (2024)
• LLOYDS ROAD (Natesan Road to Kamarajar Salai): Rs 9,300 per sq.ft (2024)
• LLOYDS ROAD (RH Road to Gowdia Madam Salai): Rs 13,200 per sq.ft (2024)
• Loganathan Colony: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Lloyds Road 1st Street

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 Lloyds Road 1st Street?

The Sub Registrar Office that covers Lloyds Road 1st Street 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 in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer and seller must consider the guideline value for calculating the applicable stamp duty and registration fees. This ensures compliance with local regulations and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Lloyds Road 1st Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2012 to Rs 8,040 per sq.ft in 2017, and then increased to Rs 13,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 1,32,00,000, the total fees would amount to Rs 11,88,000.

Where can I find the Sub Registrar Office for Lloyds Road 1st Street?

The Mylapore Sub Registrar Office covers Lloyds Road 1st Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, crescent Street Alwarpet, Chennai -600018.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating stamp duty and registration fees. It ensures that property transactions are recorded at a fair value in compliance with local regulations.