Guideline Value for Turn Bulls Road

Turn Bulls Road guideline value

The current guideline value of Turn Bulls Road is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, and is classified as Residential Special Type - IV.

How the guideline value of Turn Bulls Road has changed

There are no figures available for Turn Bulls Road in the revisions from 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 13,000 per sq.ft in the 2023 revision, and it increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

This change reflects a significant adjustment in the guideline value, indicating a rise in property valuation in this area. The current figure is the highest recorded for this street in the available revisions.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 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 these streets is Rs 8,800 per sq.ft, placing Turn Bulls Road's 2024 figure above that median.

• Turn Bulls 3rd Street: Rs 10,900 per sq.ft (2024)
• Turn Bulls Road 2 & 4th Cross Street: Rs 10,900 per sq.ft (2024)
• Turn Bulls 2nd Street: Rs 10,900 per sq.ft (2024)
• Turnbulls Road 3rd Cross Street: Rs 10,900 per sq.ft (2024)
• Turn Bulls 1st Street: Rs 10,900 per sq.ft (2024)
• Turnbulls Road 5th Cross Street: Rs 10,900 per sq.ft (2024)

Stamp duty and registration fee for property in Turn Bulls Road

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, resulting in a total of 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 Turn Bulls Road?

The Sub Registrar Office that covers Turn Bulls Road 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 1

The guideline value is a crucial factor when buying or selling property in Mylapore Part 1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value for calculating stamp duty and registration fees during the transaction process.

When a property is sold, the guideline value serves as a benchmark for the transaction price. If the sale price exceeds the guideline value, the stamp duty is calculated based on the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Turn Bulls Road?

The current guideline value of Turn Bulls Road is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, marking a 10% increase.

What is the classification of Turn Bulls Road?

Turn Bulls Road is classified as Residential Special Type - IV under the Chennai Central Joint I SRO.

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

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

How is stamp duty calculated for properties in Turn Bulls Road?

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