Guideline Value for C.V. RAMAN SALAI

C.V. Raman Salai guideline value

The current guideline value of C.V. Raman Salai is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class I Type - III.

How the guideline value of C.V. Raman Salai has changed

The guideline value for C.V. Raman Salai has seen significant changes over the years. In 2002, the value was Rs 2,325 per sq.ft. This figure increased to Rs 2,583 per sq.ft in 2003, marking an 11% rise. The value continued to climb, reaching Rs 2,800 per sq.ft in 2007, which was an 8% increase. A substantial jump occurred in 2012, where the value rose to Rs 13,000 per sq.ft, reflecting a remarkable 364% increase from the previous revision. However, in 2017, the value decreased to Rs 8,710 per sq.ft, a decline of 33%.

From 2017 to 2023, the guideline value increased significantly to Rs 13,000 per sq.ft, a rise of 49%. The most recent revision in 2024 set the value at Rs 14,300 per sq.ft, which is a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 515%.

Guideline values in Mylapore

Mylapore village features a range of guideline values across its 883 streets, with the 2024 figures ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in Mylapore is Rs 8,800 per sq.ft, positioning C.V. Raman Salai's 2024 figure above this median.

• Custian Beach Road: Rs 8,800 per sq.ft (2024)
• C.P. Ramasamy Street Extension East & West: Rs 14,300 per sq.ft (2024)
• C.P. Ramasamy Street: Rs 14,300 per sq.ft (2024)
• C.P Ramasamy Salai: Rs 25,800 per sq.ft (2024)
• Deiva Sigamani Road: Rs 8,800 per sq.ft (2024)
• De-Monte Colony: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in C.V. Raman Salai

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. Together, the total cost for stamp duty and registration would be Rs 12,87,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers C.V. Raman Salai?

The Sub Registrar Office that covers C.V. Raman Salai 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 during the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum value of a property, which is essential for calculating stamp duty and registration fees.

When buying or selling property, the buyer and seller must ensure that the transaction is registered at the Sub Registrar Office, where the guideline value will be referenced. This ensures compliance with local regulations and proper documentation of the property transfer.

Frequently asked questions

What is the current guideline value of C.V. Raman Salai?

The current guideline value of C.V. Raman Salai is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,325 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, reflecting a total increase of 515% over the years.

What is the stamp duty rate for properties in C.V. Raman Salai?

The stamp duty rate for properties in C.V. Raman Salai is 7% of the guideline value or the sale price, whichever is higher.

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.

How can I calculate the registration fees for a property?

You can calculate the registration fees for a property using the stamp duty and registration fee calculator available online.