Guideline Value for SANDAVELI STREET

Sandaveli Street guideline value

The current guideline value of Sandaveli Street is Rs 3,300 per sq.ft, effective from 1 July 2024. It is located in Mylapore village under the Mylapore SRO, classified as Residential Class V Type - III.

How the guideline value of Sandaveli Street has changed

Over the years, the guideline value of Sandaveli Street has seen several revisions. The earliest recorded figure was Rs 1,000 per sq.ft in 2007, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, this value decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, and most recently, the 2024 revision set it at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Sandaveli Street in the revisions for the years 2002 and 2003. The overall change from the 2007 figure to the current 2024 value represents a substantial increase of 230%.

Guideline values in Mylapore

In Mylapore, 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. Sandaveli Street's current guideline value is below this median.

• Sanjeevi Street Thalaiyari Street: Rs 8,200 per sq.ft (2024)
• Sambamdam Street: Rs 8,200 per sq.ft (2024)
• Salayar 1st Street: Rs 4,900 per sq.ft (2024)
• Salai Street: Rs 8,200 per sq.ft (2024)
• Salai Lane: Rs 8,200 per sq.ft (2024)
• SANTHOME HIGH ROAD: Rs 22,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sandaveli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is essential to note that 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 detailed calculations.

Which Sub Registrar Office covers Sandaveli Street?

Sandaveli Street falls under the jurisdiction of the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. For more information, you can find your SRO.

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

The guideline value is a critical factor when registering property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value is assessed to ensure that the transaction is registered at a value that reflects the current market conditions, thereby ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sandaveli Street?

The current guideline value of Sandaveli Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,000 per sq.ft to Rs 3,300 per sq.ft in 2024, representing an overall increase of 230%.

What are the registration fees for properties on Sandaveli Street?

The registration fees are calculated based on the guideline value or the sale price, whichever is higher. For a plot valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Which Sub Registrar Office is responsible for Sandaveli Street?

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

What are the guideline values of other streets in Mylapore?

Other streets in Mylapore have varying guideline values. For example, Sanjeevi Street Thalaiyari Street and Sambamdam Street both have a guideline value of Rs 8,200 per sq.ft in 2024, while Salayar 1st Street is valued at Rs 4,900 per sq.ft.