Guideline Value for LUZ CHURCH 1ST LANE

Luz Church 1st Lane guideline value

The current guideline value of Luz Church 1st Lane is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class II Type - I.

How the guideline value of Luz Church 1st Lane has changed

In the 2012 revision, the guideline value for Luz Church 1st Lane was Rs 12,000 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 13,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for this street in the revisions for the years 2002, 2003, 2007, and 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 Church 1st Lane's 2024 guideline value is above this median.

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

Stamp duty and registration fee for property in Luz Church 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. The duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Luz Church 1st Lane?

The Sub Registrar Office that covers Luz Church 1st 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 details.

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

The guideline value is a crucial factor in the registration process for property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the government receives the correct revenue from property transactions. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Luz Church 1st Lane?

The current guideline value of Luz Church 1st Lane 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 2012 to Rs 12,000 per sq.ft in 2023, and then to Rs 13,200 per sq.ft in 2024, marking a 10% increase from the previous year.

What are the stamp duty and registration fees for properties in Luz Church 1st Lane?

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which office handles the registration for Luz Church 1st Lane?

The Mylapore Sub Registrar Office handles the registration for Luz Church 1st Lane, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification for Luz Church 1st Lane?

Luz Church 1st Lane is classified as Residential Class II Type - I according to the guidelines set by the Mylapore SRO.