Guideline Value

Corporate

Guideline Value for LUZ AVENUE 2ND LANE

₹22000/sq.ft.

The guideline value for Luz Avenue 2nd Lane in Mylapore village (Mylapore SRO, Chennai zone) is Rs 22000 per sq.ft, effective 1 July 2024. It was Rs 20000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Mylapore

Village

Mylapore

SRO

Residential Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹22000 /sq.ft.
From 1-4-2023 ₹20000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹13400 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹20000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony ,cresent Street Alwarpet,chennai -600018
044-24640344
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Luz Avenue 2nd Lane

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Luz Avenue 2nd Lane guideline value

The current guideline value of Luz Avenue 2nd Lane is Rs 22,000 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Special Type - II.

How the guideline value of Luz Avenue 2nd Lane has changed

The guideline value for Luz Avenue 2nd Lane has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 20,000 per sq.ft, which then decreased to Rs 13,400 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 20,000 per sq.ft in 2023, and then further rose to the current value of Rs 22,000 per sq.ft in 2024, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Luz Avenue 2nd Lane is above this median.

Stamp duty and registration fee for property in Luz Avenue 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 22,000 per sq.ft, the total guideline value would be Rs 2,20,00,000. The stamp duty at 7% would amount to Rs 15,40,000, and the registration fee at 2% would be Rs 4,40,000, making the total cost Rs 19,80,000. 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 more details.

Which Sub Registrar Office covers Luz Avenue 2nd Lane?

The Sub Registrar Office that covers Luz Avenue 2nd Lane 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 is a crucial factor when buying or selling property in Mylapore, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Luz Avenue 2nd Lane?

The current guideline value of Luz Avenue 2nd Lane is Rs 22,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 20,000 per sq.ft in 2012 to Rs 13,400 per sq.ft in 2017, then increased to Rs 20,000 per sq.ft in 2023, and finally to Rs 22,000 per sq.ft in 2024.

What is the land classification for Luz Avenue 2nd Lane?

Luz Avenue 2nd Lane is classified as Residential Special Type - II under the Mylapore SRO.

What are the other streets in Mylapore with the same guideline value?

Other streets in Mylapore with the same guideline value of Rs 22,000 per sq.ft include Luz Avenue 1st Lane, Luz Avenue Community Centre, Luz Avenue, Luz Avenue School Lane, and Luz Avenue School Road.

Where is the Sub Registrar Office for Luz Avenue 2nd Lane located?

The Sub Registrar Office for Luz Avenue 2nd Lane is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.