Guideline Value for PALLAKKU MANYAM 11TH LANE

Pallakku Manyam 11th Lane guideline value

The current guideline value of Pallakku Manyam 11th Lane is Rs 3,300 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 V Type - III.

How the guideline value of Pallakku Manyam 11th Lane has changed

The guideline value for Pallakku Manyam 11th Lane has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 3,000 per sq.ft in 2023. The latest revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 value of Rs 8,800 per sq.ft. The guideline value for Pallakku Manyam 11th Lane is below this median.

• Pallakku Manyam 10th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 12th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 13th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 14th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 1st lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pallakku Manyam 11th Lane

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Pallakku Manyam 11th Lane?

The Sub Registrar Office that covers Pallakku Manyam 11th 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 utilized during the registration process of 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 compared to the sale price, and the higher figure is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pallakku Manyam 11th Lane?

The current guideline value of Pallakku Manyam 11th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017, which was a significant rise from Rs 3,000 per sq.ft in 2012.

What is the land classification of Pallakku Manyam 11th Lane?

Pallakku Manyam 11th Lane is classified as Residential Class V Type - III under the Mylapore SRO.

What are the stamp duty and registration fees for this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Pallakku Manyam 11th Lane located?

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