Guideline Value for PARK VIEW ROAD / STREET

Park View Road / Street guideline value

The current guideline value of Park View Road / Street is Rs 9,300 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 III Type - II.

How the guideline value of Park View Road / Street has changed

The guideline value for Park View Road / Street has seen several revisions over the years. The earliest recorded figure is from 2002, where it was Rs 884 per sq.ft. This increased to Rs 982 per sq.ft in 2003, marking an 11% rise. However, there is no registered figure for the year 2007. In 2012, the value was Rs 8,500 per sq.ft, reflecting a significant increase of 766% from 2003. The value then decreased by 33% to Rs 5,695 per sq.ft in 2017.

In the following revisions, the guideline value rose to Rs 8,500 per sq.ft in 2023, which was a 49% increase from the 2017 figure. The most recent revision in 2024 saw the value rise again to Rs 9,300 per sq.ft, representing a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 952%.

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 value for these streets is Rs 8,800 per sq.ft, placing Park View Road / Street above this median.

• Paripoorana Vinayagar Koil Street: Rs 9,300 per sq.ft (2024)
• Pappu Masthan Dharga Main Street: Rs 3,300 per sq.ft (2024)
• Pappu Masthan Dharga 6th 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 4th Street/Lane: Rs 3,300 per sq.ft (2024)
• Pappu Masthan Dharga 3rd Street/Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Park View Road / Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value would be Rs 93,00,000. The stamp duty, charged at 7%, would amount to Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000. Therefore, the total cost for these fees would be Rs 8,37,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Park View Road / Street?

The Park View Road / Street 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 further assistance.

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

The guideline value is a critical factor when buying or selling property in Mylapore. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees. The fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Park View Road / Street?

The current guideline value of Park View Road / Street is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 884 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, marking an overall increase of 952% over this period.

What is the stamp duty for property in Park View Road / Street?

The stamp duty for property in Park View Road / Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registration for Park View Road / Street?

The Mylapore Sub Registrar Office handles property registration for Park View Road / Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the median guideline value for streets in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, with Park View Road / Street having a value above this median at Rs 9,300 per sq.ft.