Guideline Value for RA PURAM 1ST CROSS STREET

Ra Puram 1st Cross Street guideline value

The current guideline value of Ra Puram 1st Cross Street is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Special Type - III.

How the guideline value of Ra Puram 1st Cross Street has changed

The guideline value for Ra Puram 1st Cross Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 17,600 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 16,000 per sq.ft. Prior to that, the value remained unchanged from the 2012 revision, which was also Rs 16,000 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from 2012 to 2024, the guideline value has increased by 10%. This reflects the changes in the property landscape over the years, culminating in the current figure that is significantly higher than the previous revisions.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Ra Puram 1st Cross Street is above this median.

• Ra Puram 1st Main Road: Rs 17,600 per sq.ft (2024)
• Ra Puram 2nd Cross Street: Rs 17,600 per sq.ft (2024)
• Ra Puram 2nd Main Road: Rs 17,600 per sq.ft (2024)
• Ra Puram 3rd Cross Street: Rs 17,600 per sq.ft (2024)
• Ra Puram 3rd Main Road: Rs 17,600 per sq.ft (2024)
• Ra Puram 4th Cross Street: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ra Puram 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value would be Rs 1,76,00,000. The stamp duty at 7% would amount to Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, bringing the total fees to Rs 15,84,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ra Puram 1st Cross Street?

The Sub Registrar Office that covers Ra Puram 1st Cross Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that transactions are conducted at a fair value as per government regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and consistent across various transactions in the region.

Frequently asked questions

What is the current guideline value of Ra Puram 1st Cross Street?

The current guideline value of Ra Puram 1st Cross Street is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 16,000 per sq.ft in 2023 to Rs 17,600 per sq.ft in 2024, marking a 10% increase. The value remained unchanged at Rs 16,000 per sq.ft from 2012 to 2023.

What is the land classification of Ra Puram 1st Cross Street?

Ra Puram 1st Cross Street is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the registration fees for property transactions?

The registration fees for property transactions are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 15,84,000.

Which office handles registrations in Mylapore?

The Mylapore Sub Registrar Office handles registrations in Mylapore. It is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.