Guideline Value for Play Ground View Street

Play Ground View Street guideline value

The current guideline value of Play Ground View Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this street is Residential Special Type - IV.

How the guideline value of Play Ground View Street has changed

The guideline value for Play Ground View Street has undergone several revisions. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 13,000 per sq.ft, which was then increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

This change reflects a significant increase in the guideline value from the previous year. The current value of Rs 14,300 per sq.ft is the latest figure recorded in the register, effective from 1 July 2024.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Play Ground View Street's 2024 guideline value is above this median.

• Poes Garden: Rs 19,800 per sq.ft (2024)
• Poes Road: Rs 10,900 per sq.ft (2024)
• Poes Road 1st Street: Rs 10,900 per sq.ft (2024)
• Poes Road 2nd Street: Rs 10,900 per sq.ft (2024)
• Poes Road 3rd Street: Rs 10,900 per sq.ft (2024)
• Poes Road 4th Street: Rs 10,900 per sq.ft (2024)

Stamp duty and registration fee for property in Play Ground View Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, leading to a total of Rs 12,87,000. It is important to note that the 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 Play Ground View Street?

The Sub Registrar Office that covers Play Ground View Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered alongside the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Play Ground View Street?

The current guideline value of Play Ground View Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a 10% increase. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Play Ground View Street?

The land classification for Play Ground View Street is Residential Special Type - IV. This classification is important for determining the use and regulations applicable to the property.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 12,87,000 based on the current guideline value.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office for Play Ground View Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office handles the registration of properties in the area.