Guideline Value for T.T.K.Lane

T.T.K.Lane guideline value

The current guideline value of T.T.K.Lane is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Special Type - IV.

How the guideline value of T.T.K.Lane has changed

The guideline value for T.T.K.Lane has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 13,000 per sq.ft, which increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

Prior to the 2023 revision, there are no recorded figures for this street. The most recent change reflects a significant increase in the valuation, indicating a notable adjustment in the guideline value.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for T.T.K.Lane is above this median.

• TTK Road 1st Cross Street: Rs 14,300 per sq.ft (2024)
• TTK Road 1st Street: Rs 14,300 per sq.ft (2024)
• TTK Road 2nd Cross Street: Rs 14,300 per sq.ft (2024)
• TTK Road (Mowbaries Road): Rs 17,600 per sq.ft (2024)
• Turn Bulls 1st Cross Street: Rs 10,900 per sq.ft (2024)
• Turn Bulls 1st Street: Rs 10,900 per sq.ft (2024)

Stamp duty and registration fee for property in T.T.K.Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total cost to Rs 12,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers T.T.K.Lane?

The Sub Registrar Office that covers T.T.K.Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, click here.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role in the registration process of property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted fairly and transparently.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the official valuation set by the registration department.

Frequently asked questions

What is the current guideline value of T.T.K.Lane?

The current guideline value of T.T.K.Lane is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for T.T.K.Lane has changed from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of T.T.K.Lane?

T.T.K.Lane is classified as Residential Special Type - IV under the Chennai Central Joint I SRO.

Where can I find the Sub Registrar Office for T.T.K.Lane?

The Sub Registrar Office for T.T.K.Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for property in T.T.K.Lane?

Stamp duty for property in T.T.K.Lane is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000 at 7%.