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 2 village, under the Chennai Central Joint I SRO. The land classification for this area is Residential Special Type - IV.

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

The guideline value for T.T.K.Lane has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision recorded a guideline value of Rs 13,000 per sq.ft, which increased to Rs 14,300 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, the register does not provide any figures for this street. The current guideline value of Rs 14,300 per sq.ft is now above the median value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

The guideline values for Mylapore Part 2 vary significantly, with figures ranging from Rs 4,400 to Rs 25,300 per sq.ft in the 2024 revision. T.T.K.Lane's current guideline value is above the median of Rs 8,800 per sq.ft.

• 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 rate of Rs 14,300 per sq.ft, the 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 to Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office covering T.T.K.Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 2. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you engage in a property transaction, the guideline value ensures that the government receives the appropriate revenue from the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

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, representing a 10% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for T.T.K.Lane?

The land classification for T.T.K.Lane is Residential Special Type - IV, indicating its designated use within the real estate framework.

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

The Sub Registrar Office for T.T.K.Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office handles the registration of property transactions in the area.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 1,43,00,000 would incur a stamp duty of Rs 10,01,000 at 7%.