Guideline Value for Maharani Chinnamma Road

Maharani Chinnamma Road guideline value

The current guideline value of Maharani Chinnamma Road is Rs 15,400 per sq.ft, effective from 1 July 2024. This road is located in Mylapore Part 1 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 Maharani Chinnamma Road has changed

In the 2023 revision, the guideline value was Rs 14,000 per sq.ft. The revision from 2023 to 2024 saw an increase of 10%, bringing the current value to Rs 15,400 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the guideline values for Maharani Chinnamma Road were not recorded in the register. Therefore, the only available figures are from 2023 and 2024.

Guideline values in Mylapore Part 1

Mylapore Part 1 village has a range of guideline values across its 333 streets under the Chennai Central Joint I SRO, with figures varying 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 the 2024 figure for Maharani Chinnamma Road above this median.

• Maharaja Surya 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 Maharani Chinnamma 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. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Maharani Chinnamma Road?

The Sub Registrar Office that covers Maharani Chinnamma 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Mylapore Part 1. It serves as the basis for calculating the stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the government receives the appropriate revenue through stamp duties and registration fees based on the established guideline value.

Frequently asked questions

What is the current guideline value of Maharani Chinnamma Road?

The current guideline value of Maharani Chinnamma 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 Maharani Chinnamma Road was Rs 14,000 per sq.ft in 2023, which increased by 10% to Rs 15,400 per sq.ft in 2024. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What are the guideline values of other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have varying guideline values, with figures ranging from Rs 4,400 to Rs 25,300 per sq.ft. Maharani Chinnamma Road's value is above the median of Rs 8,800 per sq.ft for the area.

How is stamp duty calculated for properties on Maharani Chinnamma Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 10,78,000.

Where can I find the Sub Registrar Office for Maharani Chinnamma Road?

The Sub Registrar Office for Maharani Chinnamma Road is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more information on how to locate your SRO through the provided link.