Guideline Value for Salai Lane (î£ùð¢ðù¢ ªî¼ «ñø¢è¤ô¢) «îõ® ªî¼, «ó£ê£¤ ê£¢ê¢ «ó£´ à좹øñ¢

SALAI LANE (î£ùð¢ðù¢ ªî¼ «ñø¢è¤ô¢) «îõ® ªî¼, «ó£ê£¤ ê£¢ê¢ «ó£´ à좹øñ¢ guideline value

The current guideline value of SALAI LANE is Rs 8,200 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 IV Type - I.

How the guideline value of SALAI LANE (î£ùð¢ðù¢ ªî¼ «ñø¢è¤ô¢) «îõ® ªî¼, «ó£ê£¤ ê£¢ê¢ «ó£´ à좹øñ¢ has changed

Over the years, the guideline value of SALAI LANE has seen significant changes. The 2017 revision set the value at Rs 5,025 per sq.ft, which increased to Rs 7,500 per sq.ft in the 2023 revision, marking a 49% rise. The current revision for 2024 shows a further increase to Rs 8,200 per sq.ft, which is a 9% increase from 2023. Overall, from 2017 to 2024, the guideline value has increased by 63%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The continuous rise in guideline value reflects the changing real estate landscape in the area.

Guideline values in Mylapore

In Mylapore, there are 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 is Rs 8,800 per sq.ft, placing SALAI LANE's 2024 figure below this median.

• Salai Street: Rs 8,200 per sq.ft (2024)
• Salayar 1st Street: Rs 4,900 per sq.ft (2024)
• Sambamdam Street: Rs 8,200 per sq.ft (2024)
• Sandaveli Street: Rs 3,300 per sq.ft (2024)
• Saiva Muthiah 6th Street: Rs 3,300 per sq.ft (2024)
• Saiva Muthiah 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in SALAI LANE (î£ùð¢ðù¢ ªî¼ «ñø¢è¤ô¢) «îõ® ªî¼, «ó£ê£¤ ê£¢ê¢ «ó£´ à좹øñ¢

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total cost to Rs 7,38,000. Please note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SALAI LANE (î£ùð¢ðù¢ ªî¼ «ñø¢è¤ô¢) «îõ® ªî¼, «ó£ê£¤ ê£¢ê¢ «ó£´ à좹øñ¢?

The Sub Registrar Office that covers SALAI 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

When buying or selling property in Mylapore, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, ensuring that the property is registered at a fair price.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. 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 SALAI LANE?

The current guideline value of SALAI LANE is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 5,025 per sq.ft to Rs 8,200 per sq.ft in 2024, reflecting a 63% overall increase.

What are the registration fees for property transactions?

The registration fees for property transactions include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for SALAI LANE?

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

What is the land classification of SALAI LANE?

SALAI LANE is classified as Residential Class IV Type - I, indicating its designation for residential use within the area.