Guideline Value for RA PURAM 1ST MAIN ROAD

Ra Puram 1st Main Road guideline value

The current guideline value of Ra Puram 1st Main Road is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Ra Puram 1st Main Road has changed

The guideline value for Ra Puram 1st Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 16,000 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 17,600 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which means that the guideline value of Ra Puram 1st Main Road is above this median.

• Ra Puram 1st Cross Street: 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 Main Road

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 cost to Rs 15,84,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ra Puram 1st Main Road?

The Sub Registrar Office that covers Ra Puram 1st Main Road 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 is a crucial factor when registering property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the applicable stamp duty and registration fees, which are essential components of the property transaction process.

Frequently asked questions

What is the current guideline value of Ra Puram 1st Main Road?

The current guideline value of Ra Puram 1st Main Road 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 2012 to Rs 16,000 per sq.ft in 2023, and then increased to Rs 17,600 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2017.

What is the land classification for Ra Puram 1st Main Road?

The land classification for Ra Puram 1st Main Road is Residential Special Type - III.

What are the stamp duty and registration fees for property in Ra Puram 1st Main Road?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total costs would amount to Rs 15,84,000.

Which Sub Registrar Office covers this area?

The Mylapore Sub Registrar Office covers Ra Puram 1st Main Road, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.