Guideline Value for Maharaja Badmavathi Street

Maharaja Badmavathi Street guideline value

The current guideline value of Maharaja Badmavathi Street is Rs 15,400 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 street is Commercial Special Type - II.

How the guideline value of Maharaja Badmavathi Street has changed

As per the revisions recorded, there has been no figure available for Maharaja Badmavathi Street in the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 14,000 per sq.ft in the 2023 revision, which increased by 10% to Rs 15,400 per sq.ft in the 2024 revision.

This increase reflects the adjustments made in the guideline values over the years, with the latest revision being effective from 1 July 2024.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a range of guideline values across its 332 streets under the Chennai Central Joint I SRO, with 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 Maharaja Badmavathi Street's 2024 figure above that median.

• Maharaja Surya Road: Rs 15,400 per sq.ft (2024)
• Maharani Chinnamma Road: Rs 15,400 per sq.ft (2024)
• Mani Mudaliyar Thottam: Rs 7,700 per sq.ft (2024)
• Mariyappan Lane: Rs 7,700 per sq.ft (2024)
• Mariyappan Street: Rs 7,700 per sq.ft (2024)
• Masilamani Road & Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Maharaja Badmavathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 15,400 per sq.ft, the total guideline value would be Rs 1,54,00,000. The stamp duty at 7% would amount to Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, making the total fees together Rs 13,86,000. It is important to note that the 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 Maharaja Badmavathi Street?

The Maharaja Badmavathi Street is covered by 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 in property transactions in Mylapore Part 2, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring transparency in the transaction process.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Maharaja Badmavathi Street?

The current guideline value of Maharaja Badmavathi Street is Rs 15,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Maharaja Badmavathi Street was Rs 14,000 per sq.ft in 2023 and increased by 10% to Rs 15,400 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 1,54,00,000, the stamp duty would be Rs 10,78,000, and the registration fee would be Rs 3,08,000, totaling Rs 13,86,000. Duty is charged on the guideline value or the sale price, whichever is higher.

Which office handles the registration for this street?

The registration for Maharaja Badmavathi Street is managed by the Chennai Central Joint I Sub Registrar Office located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the median guideline value in Mylapore Part 2?

The median guideline value in Mylapore Part 2 is Rs 8,800 per sq.ft, with Maharaja Badmavathi Street's current value of Rs 15,400 per sq.ft being above this median.