Guideline Value for TTK Road 1st Street

TTK Road 1st Street guideline value

The current guideline value of TTK Road 1st Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of TTK Road 1st Street has changed

The guideline value for TTK Road 1st Street 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 was then increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

Prior to the 2023 revision, the guideline value for TTK Road 1st Street was not recorded in the register for the years mentioned. The 2024 figure represents a significant increase compared to the previous year's value, reflecting the latest adjustments made by the authorities.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 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. The median guideline value for this area is Rs 8,800 per sq.ft, making TTK Road 1st Street's 2024 figure above that median.

• TTK Road 1st Cross 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)
• T.T.K.Lane: Rs 14,300 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 TTK Road 1st Street

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 to Rs 12,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TTK Road 1st Street?

The Sub Registrar Office that covers TTK Road 1st Street 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 is a crucial factor in the registration process when buying or selling property in Mylapore Part 2. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the actual sale price, whichever is higher, which can significantly impact the total expenditure involved in the transaction.

Frequently asked questions

What is the current guideline value of TTK Road 1st Street?

The current guideline value of TTK Road 1st Street 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 TTK Road 1st Street was Rs 13,000 per sq.ft in 2023 and increased to Rs 14,300 per sq.ft in 2024, reflecting a 10% rise. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for TTK Road 1st Street?

TTK Road 1st Street is classified as Residential Special Type - IV. This classification is important for determining the usage and development potential of the land.

How is stamp duty calculated for properties on TTK Road 1st Street?

Stamp duty for properties on TTK Road 1st Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable on the same basis.

Where can I find the Sub Registrar Office for TTK Road 1st Street?

The Sub Registrar Office for TTK Road 1st Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office handles all registration activities for properties in this area.