Guideline Value for MATHALA NARAYANAN LANE

Mathala Narayanan Lane guideline value

The current guideline value of Mathala Narayanan Lane is Rs 9,300 per sq.ft, effective from 1 July 2024. This lane is located in Mylapore village under the Mylapore SRO, classified as Residential Class III Type - II.

How the guideline value of Mathala Narayanan Lane has changed

The guideline value for Mathala Narayanan Lane has seen significant changes over the years. In 2002, the guideline value was Rs 783 per sq.ft, which increased to Rs 870 per sq.ft in 2003. Following this, the value rose to Rs 1,540 per sq.ft in 2007, marking a substantial increase of 77%. The value then jumped dramatically to Rs 8,500 per sq.ft in 2012, reflecting a 452% increase. However, it decreased to Rs 5,695 per sq.ft in 2017, showing a decline of 33%. The value then rose again to Rs 8,500 per sq.ft in 2023, before reaching the current rate of Rs 9,300 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,088%. There are no figures available for the revisions in 2012 and 2017 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. Mathala Narayanan Lane's current guideline value is above this median.

• Mathala Narayanan Street: Rs 11,500 per sq.ft (2024)
• Masilamani Mudali Street: Rs 8,800 per sq.ft (2024)
• Mavadi Vinayagar Koil Street: Rs 7,100 per sq.ft (2024)
• Masilamani Colony Street: Rs 8,800 per sq.ft (2024)
• Mayandi Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Mayandi Colony 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mathala Narayanan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value would be Rs 93,00,000. The stamp duty, charged at 7%, would amount to Rs 6,51,000, while the registration fee at 2% would be Rs 1,86,000. Together, the total cost for stamp duty and registration would be Rs 8,37,000. 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 further calculations.

Which Sub Registrar Office covers Mathala Narayanan Lane?

The Sub Registrar Office that covers Mathala Narayanan 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 buying or selling property in Mylapore. It serves as a reference for determining the minimum value at which property transactions can be registered. Buyers and sellers must be aware that the guideline value directly influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Mathala Narayanan Lane?

The current guideline value of Mathala Narayanan Lane is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 783 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, marking an increase of 1,088% over this period.

What are the stamp duty and registration fees for properties in Mathala Narayanan Lane?

For a property valued at Rs 93,00,000, the stamp duty would be Rs 6,51,000 and the registration fee would be Rs 1,86,000, totaling Rs 8,37,000.

Which Sub Registrar Office covers Mathala Narayanan Lane?

The Mylapore Sub Registrar Office covers Mathala Narayanan Lane, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification of Mathala Narayanan Lane?

Mathala Narayanan Lane is classified as Residential Class III Type - II, indicating its designation for residential use within the Mylapore SRO.