Guideline Value for PALLAKKU MANYAM 7th lane

PALLAKKU MANYAM 7th lane guideline value

The current guideline value of PALLAKKU MANYAM 7th 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 7th lane has changed

In the 2007 revision, the guideline value was set at Rs 900 per sq.ft. This figure saw a significant increase in 2012 when it rose to Rs 3,000 per sq.ft, marking a change of +233%. The guideline value remained unchanged at Rs 3,000 per sq.ft in the 2023 revision. However, in the 2024 revision, the value increased to Rs 3,300 per sq.ft, reflecting a change of +10% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by +267%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street in the register.

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. PALLAKKU MANYAM 7th lane's 2024 guideline value is below this median.

• PALLAKKU MANYAM 6th lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 8th lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 5th lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 9th LANE: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM 4th lane: Rs 3,300 per sq.ft (2024)
• PALLAKKU MANYAM link road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in PALLAKKU MANYAM 7th 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers PALLAKKU MANYAM 7th lane?

The Sub Registrar Office that covers PALLAKKU MANYAM 7th lane is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit find your SRO.

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, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees payable during the transaction.

When a property is sold, the guideline value serves as a benchmark to ensure that the sale price is not undervalued. Buyers and sellers must consider this value to comply with legal requirements and avoid potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of PALLAKKU MANYAM 7th lane?

The current guideline value of PALLAKKU MANYAM 7th lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 900 per sq.ft to Rs 3,300 per sq.ft in 2024, representing a total increase of +267% over this period.

What is the land classification for PALLAKKU MANYAM 7th lane?

PALLAKKU MANYAM 7th lane is classified as Residential Class V Type - III.

Which Sub Registrar Office should I visit for transactions in PALLAKKU MANYAM 7th lane?

The Mylapore Sub Registrar Office covers PALLAKKU MANYAM 7th lane, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.