Guideline Value for PS SIVASAMY IYER 1ST LANE

Ps Sivasamy Iyer 1st Lane guideline value

The current guideline value of Ps Sivasamy Iyer 1st Lane is Rs 13,200 per sq.ft, effective from 1 July 2024. This lane is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ps Sivasamy Iyer 1st Lane has changed

The guideline value for Ps Sivasamy Iyer 1st Lane has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 2,365 per sq.ft. This figure saw a significant increase to Rs 12,000 per sq.ft in 2012, marking a rise of 407%. The value remained unchanged at Rs 12,000 per sq.ft in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 13,200 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 458%.

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. The guideline value for Ps Sivasamy Iyer 1st Lane is above this median.

• P.S.Sivasami Salai (C.I.T. 1st Cross Street To North End Of The Road): Rs 17,600 per sq.ft (2024)
• Ps Sivasamy Iyer 1st Street: Rs 13,200 per sq.ft (2024)
• Ps Sivasamy Iyer 2nd Lane: Rs 13,200 per sq.ft (2024)
• Ps. Sivasamy Iyer Street (From R.H. Road To Cit Colony 1st Cross Street): Rs 22,000 per sq.ft (2024)
• Pro Quarters: Rs 7,100 per sq.ft (2024)
• Prithivi Avenue: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ps Sivasamy Iyer 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total costs together to Rs 11,88,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Ps Sivasamy Iyer 1st Lane?

The Sub Registrar Office that covers Ps Sivasamy Iyer 1st Lane is 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 is a crucial factor during property registration in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value ensures that the transaction is recorded accurately and fairly in the government records.

When a buyer or seller engages in a property transaction, the guideline value helps in establishing a minimum value for the property, which is used by the registration authorities to calculate the applicable fees. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Ps Sivasamy Iyer 1st Lane?

The current guideline value of Ps Sivasamy Iyer 1st Lane is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,365 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, representing an overall increase of 458%.

What was the guideline value in 2023?

The guideline value for Ps Sivasamy Iyer 1st Lane in 2023 was Rs 12,000 per sq.ft.

Which Sub Registrar Office should I visit for transactions in Ps Sivasamy Iyer 1st Lane?

The Mylapore Sub Registrar Office is responsible for transactions in Ps Sivasamy Iyer 1st 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 guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 at a rate of 7%.