Guideline Value for LUZ CHRUCH ROAD

Luz Chruch Road guideline value

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

How the guideline value of Luz Chruch Road has changed

The guideline value for Luz Chruch Road has seen several revisions over the years. The 2012 revision set the value at Rs 20,000 per sq.ft, which then decreased to Rs 13,400 per sq.ft in the 2017 revision. Following that, the 2023 revision raised it to Rs 20,000 per sq.ft, and the most recent 2024 revision increased it further to Rs 22,000 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023. However, there was a 33% decrease from the 2012 revision to the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures 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. Luz Chruch Road's 2024 figure of Rs 22,000 per sq.ft is above this median.

• Luz Avenue School Road: Rs 22,000 per sq.ft (2024)
• Luz Church 1st Lane: Rs 13,200 per sq.ft (2024)
• Luz Avenue School Lane: Rs 22,000 per sq.ft (2024)
• Luz Church 2nd Lane: Rs 13,200 per sq.ft (2024)
• Luz Avenue Community Centre: Rs 22,000 per sq.ft (2024)
• Luz Church 3rd Lane: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Luz Chruch Road

For a 1,000 sq.ft plot at the current rate of Rs 22,000 per sq.ft, the guideline value amounts to Rs 2,20,00,000. The stamp duty at 7% would be Rs 15,40,000, and the registration fee at 2% would be Rs 4,40,000, bringing the total to 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 further calculations.

Which Sub Registrar Office covers Luz Chruch Road?

The Sub Registrar Office that covers Luz Chruch Road 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 an essential factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to 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 revenue from property transactions.

Frequently asked questions

What is the current guideline value of Luz Chruch Road?

The current guideline value of Luz Chruch Road 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 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 Chruch Road?

Luz Chruch Road is classified as Residential Special Type - II under the Mylapore SRO.

Where can I find the registration office for Luz Chruch Road?

The registration office for Luz Chruch Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in Luz Chruch Road?

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 2,20,00,000, the stamp duty would be Rs 15,40,000 at a rate of 7%.