Guideline Value for Maharaja Surya Road

Maharaja Surya Road guideline value

The current guideline value of Maharaja Surya Road is Rs 15,400 per sq.ft, effective from 1 July 2024. This road is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, and is classified as Commercial Special Type - II.

How the guideline value of Maharaja Surya Road has changed

The guideline value for Maharaja Surya Road has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 15,400 per sq.ft, which is an increase of 10% from the 2023 revision figure of Rs 14,000 per sq.ft. The register has no figures for this street for the years 2002, 2003, 2007, 2012, and 2017.

Prior to the 2023 revision, the guideline values were not available for Maharaja Surya Road in the earlier years mentioned. The 2024 figure represents a significant increase in the context of the recent 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 this area is Rs 8,800 per sq.ft, placing Maharaja Surya Road's 2024 figure above the median.

• Maharani Chinnamma Road: Rs 15,400 per sq.ft (2024)
• Maharaja Badmavathi Street: 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 Surya Road

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, totaling Rs 13,86,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maharaja Surya Road?

The Sub Registrar Office that covers Maharaja Surya 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 details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as recognized by the local authorities. This process helps maintain transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Maharaja Surya Road?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 14,000 per sq.ft in 2023 to Rs 15,400 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft. Maharaja Surya Road's 2024 figure is above this median.

What are the stamp duty and registration fees for properties on this road?

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 higher of the guideline value or the sale price.

Which office handles the registration for Maharaja Surya Road?

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