Guideline Value for LUZ CHURCH LANE

Luz Church Lane guideline value

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

How the guideline value of Luz Church Lane has changed

The guideline value for Luz Church Lane has seen significant changes over the years. In 2002, the value was Rs 1,631 per sq.ft, which increased to Rs 1,812 per sq.ft in 2003, marking an increase of 11%. The value then rose dramatically to Rs 12,000 per sq.ft in 2012, reflecting a substantial increase of 562%. However, from 2012 to 2017, the value decreased to Rs 8,040 per sq.ft, a decline of 33%. The latest revision in 2024 brings the guideline value to Rs 13,200 per sq.ft, which is an increase of 64% from the 2017 figure.

It is important to note that there are no figures available for the years 2007 and 2023 for Luz Church Lane. Overall, the guideline value has increased by 709% from 2002 to 2024.

Guideline values in Mylapore

In Mylapore, 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 of Rs 8,800 per sq.ft. Luz Church Lane's 2024 guideline value is significantly above this median.

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

Stamp duty and registration fee for property in Luz Church 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, bringing the total fees together to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Luz Church Lane?

The Sub Registrar Office that covers Luz Church 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 plays a crucial role in the registration process of property transactions in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or purchased. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

When buying or selling property, it is essential to be aware of the current guideline value as it affects the overall cost of the transaction. Buyers should ensure that they are prepared for these fees, as they can significantly impact the total amount payable at the time of registration.

Frequently asked questions

What is the current guideline value of Luz Church Lane?

The current guideline value of Luz Church 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 changed significantly, increasing from Rs 1,631 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, which is an overall increase of 709%.

What is the land classification for Luz Church Lane?

The land classification for Luz Church Lane is Residential Class II Type - I.

What are the stamp duty and registration fees for property in Luz Church Lane?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 11,88,000.

Which office handles the registration for Luz Church Lane?

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