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Guideline Value

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Guideline Value for NEW STREET (Near Lloyds Road 3rd Street [Vallalar Flats)

₹7700/sq.ft.

The guideline value for New Street (near Lloyds Road 3rd Street [vallalar Flats) in Mylapore village (Mylapore SRO, Chennai zone) is Rs 7700 per sq.ft, effective 1 July 2024. It was Rs 7000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Mylapore

Village

Mylapore

SRO

Residential Class IV Type - II
History
Period Guideline Value
From 1-7-2024 ₹7700 /sq.ft.
From 1-4-2023 ₹7000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹4690 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹7000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 ₹969 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony ,cresent Street Alwarpet,chennai -600018
044-24640344
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on New Street (near Lloyds Road 3rd Street [vallalar Flats)

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NEW STREET (Near Lloyds Road 3rd Street [Vallalar Flats) guideline value

The current guideline value for NEW STREET (Near Lloyds Road 3rd Street [Vallalar Flats) is Rs 7,700 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 IV Type - II.

How the guideline value of NEW STREET (Near Lloyds Road 3rd Street [Vallalar Flats) has changed

The guideline value for NEW STREET has undergone several revisions over the years. In the 2003 revision, the value was set at Rs 969 per sq.ft. This increased significantly to Rs 7,000 per sq.ft in the 2012 revision, but then decreased to Rs 4,690 per sq.ft in the 2017 revision. The value rose again to Rs 7,000 per sq.ft in the 2023 revision, before reaching the current guideline value of Rs 7,700 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002 and 2007 in the register for this street.

From 2003 to 2024, the overall increase in the guideline value is 695%. The changes between the revisions show a 622% increase from 2003 to 2012, followed by a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing NEW STREET's 2024 figure below that median.

Stamp duty and registration fee for property in NEW STREET (Near Lloyds Road 3rd Street [Vallalar Flats)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. Note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers NEW STREET (Near Lloyds Road 3rd Street [Vallalar Flats)?

The Sub Registrar Office that covers NEW STREET 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 of property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the authorities will assess the guideline value to ensure that the appropriate fees are collected. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value for NEW STREET?

The current guideline value for NEW STREET (Near Lloyds Road 3rd Street [Vallalar Flats) is Rs 7,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 969 per sq.ft in 2003 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 695% over the years.

What are the stamp duty and registration fees for property in NEW STREET?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which Sub Registrar Office covers NEW STREET?

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

What is the land classification for NEW STREET?

NEW STREET is classified as Residential Class IV Type - II, indicating its designation for residential purposes under the Mylapore SRO.