Guideline Value for POSTAL & TELEGRAPH

Postal & Telegraph guideline value

The current guideline value for Postal & Telegraph in Mylapore village is Rs 8,800 per sq.ft, effective from 1 July 2024. This area falls under the Mylapore Sub Registrar Office (SRO) and is classified as Residential Class III Type - III.

How the guideline value of Postal & Telegraph has changed

The guideline value for Postal & Telegraph has seen several revisions over the years. In 2012, the guideline value was Rs 8,000 per sq.ft. This figure was then revised to Rs 5,360 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 8,000 per sq.ft, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 8,800 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from 2012 to 2024.

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, which is equal to the current guideline value of Postal & Telegraph.

• Powder Mill 1st Street: Rs 8,200 per sq.ft (2024)
• Powder Mill 2nd Street: Rs 8,200 per sq.ft (2024)
• Powder Mill Street: Rs 8,200 per sq.ft (2024)
• Prasana Vinayagar Koil Street: Rs 8,800 per sq.ft (2024)
• Prasanna Vinayagar Koil 1st Lane: Rs 8,200 per sq.ft (2024)
• Prasanna Vinayagar Koil 2nd Lane: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Postal & Telegraph

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Postal & Telegraph?

The Postal & Telegraph area 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 a property in Mylapore. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that transactions are conducted at a value that reflects the official assessment of the property’s worth. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value for Postal & Telegraph?

The current guideline value for Postal & Telegraph is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2012 to Rs 5,360 per sq.ft in 2017, then back to Rs 8,000 per sq.ft in 2023, and finally to Rs 8,800 per sq.ft in 2024.

What is the land classification for Postal & Telegraph?

Postal & Telegraph is classified as Residential Class III Type - III under the Mylapore SRO.

What are the other streets in Mylapore and their guideline values?

Other streets in Mylapore include Powder Mill 1st Street, Powder Mill 2nd Street, and Prasana Vinayagar Koil Street, with guideline values ranging from Rs 8,200 to Rs 8,800 per sq.ft in 2024.

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.