Guideline Value for SOORSA MAKKAN 1ST & 11TH LANE

Soorsa Makkan 1st & 11th Lane guideline value

The current guideline value of Soorsa Makkan 1st & 11th Lane is Rs 3,300 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 - III.

How the guideline value of Soorsa Makkan 1st & 11th Lane has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained the same in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has risen by 10%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Therefore, the only registered figures are from 2012, 2023, and 2024.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which means the guideline value for Soorsa Makkan 1st & 11th Lane is below the median.

• Sonachala Mudali Street: Rs 7,100 per sq.ft (2024)
• South Canal Bank Road: Rs 7,100 per sq.ft (2024)
• South Canal Bank Road 2nd Street: Rs 4,900 per sq.ft (2024)
• South Kesavaperumalpuram 1st Cross Street: Rs 8,800 per sq.ft (2024)
• South Kesavaperumalpuram 1st Street: Rs 8,800 per sq.ft (2024)
• South Kesavaperumalpuram 2nd Cross Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Soorsa Makkan 1st & 11th Lane

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 to Rs 2,97,000. Please 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 detailed calculations.

Which Sub Registrar Office covers Soorsa Makkan 1st & 11th Lane?

The Sub Registrar Office that covers Soorsa Makkan 1st & 11th 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 during the registration of property transactions in Mylapore. When a property is sold or purchased, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated fairly based on the property's value.

It is important for buyers and sellers to be aware of the guideline value as it can significantly affect the overall costs involved in a property transaction. This value is regularly updated to reflect changes in the real estate market, ensuring that it remains relevant for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Soorsa Makkan 1st & 11th Lane?

The current guideline value of Soorsa Makkan 1st & 11th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. There was no change in the value from 2012 to 2023.

What are the stamp duty and registration fees for properties in this area?

For a plot of 1,000 sq.ft at the current guideline value, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Mylapore Sub Registrar Office covers Soorsa Makkan 1st & 11th Lane, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Soorsa Makkan 1st & 11th Lane?

Soorsa Makkan 1st & 11th Lane is classified as Residential Class V Type - III.