Guideline Value for Turn Bulls Road Extention

Turn Bulls Road Extention guideline value

The current guideline value of Turn Bulls Road Extention is Rs 10,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Turn Bulls Road Extention has changed

The guideline value for Turn Bulls Road Extention has seen changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 10,000 per sq.ft, and it increased by 9% to Rs 10,900 per sq.ft in the 2024 revision.

This significant change reflects the current valuation trends in the area. The 2024 revision marks a notable increase from the previous year, indicating a rising valuation for properties in this locality.

Guideline values in Mylapore Part 2

Mylapore Part 2 has 332 streets under the Chennai Central Joint I SRO, with guideline values 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, placing Turn Bulls Road Extention above this median.

• Turnbulls Road 6th Cross Street: Rs 10,900 per sq.ft (2024)
• Turnbulls Road 5th Cross Street: Rs 10,900 per sq.ft (2024)
• Turnbulls Road 3rd Cross Street: Rs 10,900 per sq.ft (2024)
• Turn Bulls Road 2 & 4th Cross Street: Rs 10,900 per sq.ft (2024)
• Turn Bulls Road: Rs 14,300 per sq.ft (2024)
• Turn Bulls 3rd Street: Rs 10,900 per sq.ft (2024)

Stamp duty and registration fee for property in Turn Bulls Road Extention

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.

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

Which Sub Registrar Office covers Turn Bulls Road Extention?

The Sub Registrar Office that covers Turn Bulls Road Extention 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 an essential factor in the registration process for property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and fairly within the legal framework.

Frequently asked questions

What is the current guideline value of Turn Bulls Road Extention?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,000 per sq.ft in 2023 to Rs 10,900 per sq.ft in 2024, reflecting a 9% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Mylapore Part 2?

Other streets in Mylapore Part 2 have varying guideline values, with rates ranging from Rs 4,400 to Rs 25,300 per sq.ft. Turn Bulls Road Extention is above the median value of Rs 8,800 per sq.ft.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 9,81,000 in duties and fees.

Where can I find the Sub Registrar Office for Turn Bulls Road Extention?

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