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 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 Maharani Chinnamma Road has changed

The guideline value for Maharani Chinnamma Road has seen revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 14,000 per sq.ft, and it increased by 10% to Rs 15,400 per sq.ft in the 2024 revision.

Prior to the 2023 revision, there were no recorded figures for the street in the years mentioned. The most recent revision reflects a significant increase, indicating a change in the valuation for this property.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a total of 332 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 these streets is Rs 8,800 per sq.ft, placing Maharani Chinnamma Road's 2024 figure 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 rate, the 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, totaling 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. You can use the stamp duty and registration fee calculator for more details.

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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 2. It serves as the basis for calculating the stamp duty and registration fees that are required when buying or selling property.

Understanding the guideline value helps buyers and sellers ensure they comply with legal requirements and pay the appropriate taxes. It is essential to refer to the latest figures to avoid any discrepancies during the registration process.

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 much has the guideline value changed recently?

The guideline value increased from Rs 14,000 per sq.ft in 2023 to Rs 15,400 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Maharani Chinnamma Road?

The land classification for Maharani Chinnamma Road is Commercial Special Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Maharani Chinnamma Road is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How do I calculate the stamp duty for a property on this road?

To calculate the stamp duty, you can use the guideline value to determine the amount. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 10,78,000, based on the current guideline value of Rs 1,54,00,000.