Guideline Value for H.D.Raja Street

H.D.Raja Street guideline value

The current guideline value of H.D.Raja Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of H.D.Raja Street has changed

The guideline value for H.D.Raja Street has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft. This figure increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

In summary, the most recent revisions show a clear upward trend from Rs 8,000 in 2023 to Rs 8,700 in 2024. This increase reflects the latest adjustments made by the Registration Department.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with 2024 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing H.D.Raja Street's 2024 figure below that median.

• Gowdia Mutt Road: Rs 13,200 per sq.ft (2024)
• Gowdia Mutt Lane: Rs 13,200 per sq.ft (2024)
• Goverthan Singh Street: Rs 8,700 per sq.ft (2024)
• Gopalapuram 8th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 7th Street: Rs 14,300 per sq.ft (2024)
• Gopalapuram 6th Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in H.D.Raja Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, making the total cost for these fees Rs 7,83,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers H.D.Raja Street?

The Sub Registrar Office that covers H.D.Raja 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 1

The guideline value is a crucial aspect of property transactions in Mylapore Part 1, as it determines the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

During the registration process, the guideline value helps to assess the legitimacy of the sale price. If the sale price is lower than the guideline value, the higher guideline value will be used for calculating the fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of H.D.Raja Street?

The current guideline value of H.D.Raja Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision, which was Rs 8,000 per sq.ft, the guideline value increased by 9% to Rs 8,700 per sq.ft in the 2024 revision.

What is the land classification for H.D.Raja Street?

H.D.Raja Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for H.D.Raja Street?

The Sub Registrar Office for H.D.Raja Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 87,00,000 would incur a stamp duty of Rs 6,09,000 and a registration fee of Rs 1,74,000.