Guideline Value for THIRU.V.K. 1ST LANE

Thiru.V.K. 1st Lane guideline value

The current guideline value of Thiru.V.K. 1st Lane is Rs 12,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO, and is classified as Residential Class II Type - II.

How the guideline value of Thiru.V.K. 1st Lane has changed

The guideline value for Thiru.V.K. 1st Lane has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 11,000 per sq.ft. This figure remained unchanged through the 2023 revision, which also recorded Rs 11,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 12,100 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values 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, positioning Thiru.V.K. 1st Lane above this median.

• Thiruvenkadam Street Extension: Rs 14,300 per sq.ft (2024)
• Thiruvenkadam Street: Rs 14,300 per sq.ft (2024)
• Thondaikan Makkan 1st Lane: Rs 3,300 per sq.ft (2024)
• Thondaikan Makkan 2nd Lane: Rs 3,300 per sq.ft (2024)
• Thondaikan Makkan 3rd Lane: Rs 3,300 per sq.ft (2024)
• Thiruvengadam 2nd Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.V.K. 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value would be Rs 1,21,00,000. The stamp duty, charged at 7%, would amount to Rs 8,47,000, while the registration fee at 2% would be Rs 2,42,000. Together, these fees would total Rs 10,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiru.V.K. 1st Lane?

The Sub Registrar Office that covers Thiru.V.K. 1st 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 plays a crucial role in the property registration process in Mylapore. When buying or selling a property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

It is essential for buyers and sellers to be aware of the guideline value, as it may affect the overall cost of the transaction. Accurate knowledge of the guideline value can help in planning the financial aspects of property dealings in Mylapore.

Frequently asked questions

What is the current guideline value of Thiru.V.K. 1st Lane?

The current guideline value of Thiru.V.K. 1st Lane is Rs 12,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased by 10% to the current rate of Rs 12,100 per sq.ft in 2024. The value remained unchanged from 2012 to 2023 at Rs 11,000 per sq.ft.

What is the land classification for Thiru.V.K. 1st Lane?

Thiru.V.K. 1st Lane is classified as Residential Class II Type - II. This classification is important for determining the usage and regulations applicable to the property.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. This office handles registrations for properties in the area.

What are the registration fees for properties in Thiru.V.K. 1st Lane?

The registration fees for properties in Thiru.V.K. 1st Lane include a stamp duty of 7% and a registration fee of 2% based on the guideline value. For example, a 1,000 sq.ft plot would incur total fees of Rs 10,89,000.