Guideline Value for PS SIVASAMY IYER 2ND LANE

Ps Sivasamy Iyer 2nd Lane guideline value

The current guideline value for Ps Sivasamy Iyer 2nd Lane is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ps Sivasamy Iyer 2nd Lane has changed

The guideline value for Ps Sivasamy Iyer 2nd Lane has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 1,041 per sq.ft, which increased to Rs 1,157 per sq.ft in 2003. The next recorded revision was in 2012, where the value was Rs 12,000 per sq.ft, marking a substantial increase of 937% from 2003. However, in 2017, the value dropped to Rs 8,040 per sq.ft, a decrease of 33% from the 2012 figure.

In 2023, the guideline value rose to Rs 12,000 per sq.ft, and then further increased by 10% to the current value of Rs 13,200 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 1168%. It is important to note that there is no figure available for the year 2007 in the register for this street.

Guideline values in Mylapore

Mylapore village has 883 streets under the Mylapore SRO with 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 Ps Sivasamy Iyer 2nd Lane's 2024 figure above this median.

• Ps Sivasamy Iyer 1st Street: 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)
• Ps Sivasamy Iyer 1st Lane: Rs 13,200 per sq.ft (2024)
• P.S.Sivasami Salai (C.I.T. 1st Cross Street To North End Of The Road): Rs 17,600 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 2nd Lane

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ps Sivasamy Iyer 2nd Lane?

The Sub Registrar Office covering Ps Sivasamy Iyer 2nd Lane is 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 an essential factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is consistent and transparent.

Frequently asked questions

What is the current guideline value of Ps Sivasamy Iyer 2nd Lane?

The current guideline value of Ps Sivasamy Iyer 2nd Lane is Rs 13,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,041 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, which is an increase of 1168% over this period.

What is the classification of land in Ps Sivasamy Iyer 2nd Lane?

Ps Sivasamy Iyer 2nd Lane is classified as Residential Class II Type - I.

What is the median guideline value in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, with Ps Sivasamy Iyer 2nd Lane's current value being above this median.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.