Guideline Value

Corporate

Guideline Value for LUZ AVENUE COMMUNITY CENTRE

₹22000/sq.ft.

The guideline value for Luz Avenue Community Centre 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 Community Centre

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Luz Avenue Community Centre guideline value

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

How the guideline value of Luz Avenue Community Centre has changed

Starting from the 2012 revision, the guideline value was Rs 20,000 per sq.ft. This figure remained until the 2017 revision when it decreased to Rs 13,400 per sq.ft, marking a decline of 33%. The 2023 revision saw a significant increase to Rs 20,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 22,000 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The increase from 2017 to 2023 was 49%, followed by a 10% increase from 2023 to 2024.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with 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 for Luz Avenue Community Centre is above this median.

Stamp duty and registration fee for property in Luz Avenue Community Centre

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, totaling Rs 19,80,000. 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 Community Centre?

The Luz Avenue Community Centre falls under 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 during the registration of property transactions in Mylapore. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Luz Avenue Community Centre?

The current guideline value of Luz Avenue Community Centre 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 seen several changes, starting from Rs 20,000 per sq.ft in 2012, decreasing to Rs 13,400 per sq.ft in 2017, and then increasing to Rs 20,000 per sq.ft in 2023. The latest revision in 2024 has raised it to Rs 22,000 per sq.ft.

What are the guideline values of other streets in Mylapore?

Other streets in Mylapore have a guideline value of Rs 22,000 per sq.ft as of 2024. These include Luz Avenue 2nd Lane, Luz Avenue School Lane, Luz Avenue 1st Lane, Luz Avenue School Road, Luz Avenue, and Luz Chruch Road.

What is the stamp duty rate in Mylapore?

The stamp duty rate in Mylapore is 7% of the guideline value or sale price, whichever is higher. This is applied during the registration of property transactions.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. This office handles property registrations in the area.