Guideline Value for PAPPU MASTHAN DHARGA 1ST STREET/LANE

Pappu Masthan Dharga 1st Street/Lane guideline value

The current guideline value for Pappu Masthan Dharga 1st Street/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 Pappu Masthan Dharga 1st Street/Lane has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained the same through the 2023 revision, which also recorded Rs 3,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. Notably, the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Mylapore

In Mylapore village, 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 value for these streets is Rs 8,800 per sq.ft, indicating that Pappu Masthan Dharga 1st Street/Lane's 2024 figure is below this median.

• Pappu Masthan Dharga 2nd Street/Lane: Rs 3,300 per sq.ft (2024)
• Pappu Masthan Dharga 3rd Street/Lane: Rs 3,300 per sq.ft (2024)
• Pappu Masthan Dharga 4th Street/Lane: Rs 3,300 per sq.ft (2024)
• Pappu Masthan Dharga 5th Street/Lane: Rs 3,300 per sq.ft (2024)
• Pappu Masthan Dharga 6th Street/Lane: Rs 3,300 per sq.ft (2024)
• Pappu Masthan Dharga Main Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pappu Masthan Dharga 1st Street/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 cost for these 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 use the stamp duty and registration fee calculator for accurate calculations based on your specific property details.

Which Sub Registrar Office covers Pappu Masthan Dharga 1st Street/Lane?

The Pappu Masthan Dharga 1st Street/Lane falls under the jurisdiction of 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 plays a crucial role during the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to or greater than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Pappu Masthan Dharga 1st Street/Lane?

The current guideline value of Pappu Masthan Dharga 1st Street/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 2012 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. The value remained the same at Rs 3,000 per sq.ft from 2012 to 2023.

What is the land classification for Pappu Masthan Dharga 1st Street/Lane?

Pappu Masthan Dharga 1st Street/Lane is classified as Residential Class V Type - III.

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.

How is stamp duty calculated for properties in this area?

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