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 street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - II.

How the guideline value of Maharaja Surya Road has changed

According to the register, there are no figures available for Maharaja Surya Road for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 14,000 per sq.ft in the 2023 revision, and it increased by 10% to Rs 15,400 per sq.ft in the 2024 revision.

The 2024 revision reflects the most recent changes, with the current guideline value being Rs 15,400 per sq.ft. This increase from the previous year’s figure indicates a notable adjustment in the valuation of properties along this street.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a total of 332 streets listed 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 in this area is Rs 8,800 per sq.ft, placing Maharaja Surya Road's 2024 figure above that 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 amounts to Rs 1,54,00,000. The stamp duty at 7% would be Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, leading to a total of Rs 13,86,000. Duty is charged on the guideline value or the sale price, whichever is higher.

You can also use our stamp duty and registration fee calculator for accurate calculations based on your specific property details.

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 information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor in the registration of property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal valuation of the property. It is important to note that the final sale price should not be lower than the guideline value to avoid legal complications during registration.

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 for Maharaja Surya Road was Rs 14,000 per sq.ft in 2023 and increased to Rs 15,400 per sq.ft in 2024, reflecting a 10% rise. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Maharaja Surya Road?

The land classification for Maharaja Surya Road is Commercial Special Type - II. This classification affects the guideline value and potential usage of the properties in this area.

Where can I find the Sub Registrar Office for Maharaja Surya Road?

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

How is stamp duty calculated on properties in Mylapore Part 2?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 1,54,00,000, the stamp duty at 7% would amount to Rs 10,78,000.