Guideline Value for ROBERTSON LANE

Robertson Lane guideline value

The current guideline value of Robertson Lane is Rs 6,000 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 V Type - I.

How the guideline value of Robertson Lane has changed

The guideline value for Robertson Lane has seen several revisions over the years. Starting from Rs 872 per sq.ft in 2002, it increased to Rs 969 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 5,500 per sq.ft in 2012, reflecting a substantial increase of 468%. However, it decreased to Rs 3,685 per sq.ft in 2017, which was a decline of 33%. The guideline value then increased again to Rs 5,500 per sq.ft in 2023, before reaching the current value of Rs 6,000 per sq.ft in 2024, an increase of 9%.

It is important to note that there is no figure for Robertson Lane in the 2007 revision. Overall, from 2002 to 2024, the guideline value has increased by 588%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that have 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 Robertson Lane is below this median.

• Robertson Street: Rs 8,800 per sq.ft (2024)
• Rohini Garden Cross Street: Rs 8,800 per sq.ft (2024)
• Rohinigarden Main Road: Rs 8,800 per sq.ft (2024)
• ROSARY CHURCH 1ST LANE (Sullivan Street parallel): Rs 9,300 per sq.ft (2024)
• Rosary Church 2nd Lane: Rs 9,300 per sq.ft (2024)
• Rosary Church Lane: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Robertson Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, while the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Robertson Lane?

The Sub Registrar Office that covers Robertson 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 a crucial factor when registering property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the transaction process.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, ensuring that both the buyer and seller comply with the regulatory requirements. This value helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Robertson Lane?

The current guideline value of Robertson Lane is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 872 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, with various revisions in between, including a drop in 2017 and increases in 2023 and 2024.

What is the land classification for Robertson Lane?

Robertson Lane is classified as Residential Class V Type - I, which indicates its intended use for residential purposes.

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.

How is the stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 60,00,000, the stamp duty would be calculated accordingly.