Guideline Value for PALLAKKU MANYAM 4th lane

PALLAKKU MANYAM 4th lane guideline value

The current guideline value for PALLAKKU MANYAM 4th 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 it falls under the Residential Class V Type - III land classification.

How the guideline value of PALLAKKU MANYAM 4th lane has changed

The guideline value for PALLAKKU MANYAM 4th lane has undergone several revisions over the years. The oldest recorded figure is from 2007, when it was Rs 900 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a change of +233%. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, which set it at Rs 3,000 per sq.ft. The latest revision in 2024 saw a further increase of +10%, bringing the guideline value to Rs 3,300 per sq.ft.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2017 for PALLAKKU MANYAM 4th lane. Overall, from 2007 to 2024, the guideline value has increased by +267%.

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. The median guideline value for these streets is Rs 8,800 per sq.ft, which means that PALLAKKU MANYAM 4th lane's 2024 figure is below that median.

• PALLAKKU MANYAM 1st lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 2nd lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 3rd lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 4th lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 5th lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 6th lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 7th lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in PALLAKKU MANYAM 4th lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers PALLAKKU MANYAM 4th lane?

PALLAKKU MANYAM 4th lane is covered by 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 property transactions in Mylapore. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration fees and stamp duties are calculated accurately based on this value.

When buyers or sellers engage in a property transaction, the guideline value helps to establish a fair basis for the transaction, ensuring compliance with local regulations. It is advisable to consult the guideline value register before proceeding with any property dealings in the area.

Frequently asked questions

What is the current guideline value for PALLAKKU MANYAM 4th lane?

The current guideline value for PALLAKKU MANYAM 4th lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of +267%.

What are the other streets with the same guideline value in Mylapore?

Other streets in Mylapore with the same guideline value of Rs 3,300 per sq.ft include PALLAKKU MANYAM 1st lane, 2nd lane, 3rd lane, 5th lane, 6th lane, and 7th lane.

How is the stamp duty calculated for properties in PALLAKKU MANYAM 4th 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, the total guideline value is Rs 33,00,000, making the stamp duty Rs 2,31,000.

Where can I find the Mylapore Sub Registrar Office?

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