Guideline Value for PALLAKKU MANYAM 5th lane

PALLAKKU MANYAM 5th lane guideline value

The current guideline value for PALLAKKU MANYAM 5th 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 falls under the Residential Class V Type - III land classification.

How the guideline value of PALLAKKU MANYAM 5th lane has changed

The guideline value for PALLAKKU MANYAM 5th lane has undergone several revisions over the years. As of the 2007 revision, the value was set at Rs 900 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 3,000 per sq.ft, marking a 233% increase. The 2023 revision maintained the value at Rs 3,000 per sq.ft, and in the latest 2024 revision, it increased by 10% to Rs 3,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2017.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%. The consistent value from 2012 to 2023 indicates stability during that period, while the recent increase reflects a change in the valuation approach.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing PALLAKKU MANYAM 5th lane's 2024 figure below that median.

• PALLAKKU MANYAM 4th lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 6th lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 3rd lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 7th lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 2nd lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 8th lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in PALLAKKU MANYAM 5th 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 fees 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 also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers PALLAKKU MANYAM 5th lane?

The PALLAKKU MANYAM 5th lane is covered by the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore

The guideline value plays a crucial role in property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the sale process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives its due revenue from property transactions, based on the established guideline values in the area.

Frequently asked questions

What is the current guideline value for PALLAKKU MANYAM 5th lane?

The current guideline value for PALLAKKU MANYAM 5th 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 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

What are the stamp duty and registration fees for properties in PALLAKKU MANYAM 5th lane?

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.

Which Sub Registrar Office covers this area?

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

What is the land classification for PALLAKKU MANYAM 5th lane?

PALLAKKU MANYAM 5th lane falls under the Residential Class V Type - III land classification.