Guideline Value for LUZ CHURCH 2ND LANE

Luz Church 2nd Lane guideline value

The current guideline value of Luz Church 2nd 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 2nd Lane has changed

The guideline value for Luz Church 2nd Lane has seen a revision from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, marking a 10% increase. Prior to that, the value remained at Rs 12,000 per sq.ft from the 2012 revision, indicating no change during that period. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This reflects the changes made in the most recent revision and the previous one.

Guideline values in Mylapore

In Mylapore, 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 value is Rs 8,800 per sq.ft, placing Luz Church 2nd Lane's value above this median.

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

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

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value totals Rs 1,32,00,000. The stamp duty at 7% amounts to Rs 9,24,000, and the registration fee at 2% is Rs 2,64,000, making the total charges Rs 11,88,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Luz Church 2nd Lane?

The Sub Registrar Office that covers Luz Church 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 registering a property in Mylapore. It determines the minimum value at which a property can be registered, influencing the stamp duty and registration fees applicable during a sale or purchase.

When buying or selling property, the guideline value helps ensure that transactions are conducted transparently and fairly. It is essential for buyers and sellers to be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value of Luz Church 2nd 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 has increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024. There was no change in the value from 2012 to 2023, and the register has no figures for the years 2002, 2003, 2007, and 2017.

What is the classification of Luz Church 2nd Lane?

Luz Church 2nd Lane is classified as Residential Class II Type - I according to the Mylapore SRO guidelines.

How is the stamp duty calculated for properties in Luz Church 2nd Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 13,200 per sq.ft, the stamp duty would be Rs 9,24,000.

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

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