Guideline Value for Turn Bulls 1st Street

Turn Bulls 1st Street guideline value

The current guideline value of Turn Bulls 1st Street is Rs 10,900 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 Class I Type - I.

How the guideline value of Turn Bulls 1st Street has changed

The guideline value for Turn Bulls 1st Street has seen revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures are Rs 10,000 per sq.ft from the 2023 revision and Rs 10,900 per sq.ft from the 2024 revision, reflecting a change of +9% between these two years.

Prior to the 2023 revision, the register did not provide figures for the years mentioned. The 2024 revision shows an increase, positioning the current guideline value significantly higher than the previous year's figure.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with a 2024 guideline value range from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, making the guideline value of Turn Bulls 1st Street above the median.

• Turn Bulls 1st Cross Street: Rs 10,900 per sq.ft (2024)
• Turn Bulls 2nd Street: Rs 10,900 per sq.ft (2024)
• Turn Bulls 3rd Street: Rs 10,900 per sq.ft (2024)
• Turn Bulls Road: Rs 14,300 per sq.ft (2024)
• Turn Bulls Road 2 & 4th Cross Street: Rs 10,900 per sq.ft (2024)
• Turnbulls Road 3rd Cross Street: Rs 10,900 per sq.ft (2024)

Stamp duty and registration fee for property in Turn Bulls 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 10,900 per sq.ft, the guideline value amounts to Rs 1,09,00,000. The stamp duty at 7% would be Rs 7,63,000, and the registration fee at 2% would be Rs 2,18,000, totaling Rs 9,81,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Turn Bulls 1st Street?

The Sub Registrar Office that covers Turn Bulls 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 when registering property transactions in Mylapore Part 2. It determines the minimum value at which a property can be registered, influencing the stamp duty and registration fees applicable to the transaction.

When buying or selling a property, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. Buyers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Turn Bulls 1st Street?

The current guideline value of Turn Bulls 1st Street is Rs 10,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Turn Bulls 1st Street has increased from Rs 10,000 per sq.ft in 2023 to Rs 10,900 per sq.ft in 2024, marking a change of +9%.

What is the land classification for Turn Bulls 1st Street?

The land classification for Turn Bulls 1st Street is Residential Class I Type - I.

Where can I find the registration office for this street?

The registration office for Turn Bulls 1st Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,09,00,000, the stamp duty would be Rs 7,63,000 at a rate of 7%.