Guideline Value for ROSARY CHURCH LANE

Rosary Church Lane guideline value

The current guideline value of Rosary Church Lane is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Rosary Church Lane has changed

Over the years, the guideline value of Rosary Church Lane has seen significant changes. Starting from the 2002 revision, the value was Rs 915 per sq.ft. It increased to Rs 1,057 per sq.ft in 2003, marking a 16% rise. The value then rose to Rs 1,601 per sq.ft in 2007, which was a substantial increase of 51%. Following that, the 2012 revision recorded a value of Rs 8,500 per sq.ft, reflecting a remarkable jump of 431% from the previous revision.

In the subsequent revisions, the guideline value was Rs 5,695 per sq.ft in 2017, showing a decrease of 33% from 2012. The value then increased to Rs 8,500 per sq.ft in 2023, and finally to Rs 9,300 per sq.ft in 2024, which is a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 916%.

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. The median value is Rs 8,800 per sq.ft, placing Rosary Church Lane's 2024 figure above this median.

• Rosary Church 2nd Lane: Rs 9,300 per sq.ft (2024)
• Rosary Church Road: Rs 9,300 per sq.ft (2024)
• ROSARY CHURCH 1ST LANE (Sullivan Street parallel): Rs 9,300 per sq.ft (2024)
• Rosary Church Street: Rs 9,300 per sq.ft (2024)
• Rotary Nagar 10th To 16th Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 17th Street/Cross St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rosary Church Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value would be Rs 93,00,000. The stamp duty at 7% would amount to Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total to Rs 8,37,000. 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 information.

Which Sub Registrar Office covers Rosary Church Lane?

The Sub Registrar Office that covers Rosary Church 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 further assistance.

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

The guideline value is a crucial 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 that need to be paid during the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rosary Church Lane?

The current guideline value of Rosary Church Lane is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 915 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, representing an overall increase of 916%.

What is the land classification for Rosary Church Lane?

Rosary Church Lane is classified as Residential Class III Type - II.

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.

How is the stamp duty calculated for properties in Rosary Church Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 93,00,000, the stamp duty would be Rs 6,51,000 at a rate of 7%.