Guideline Value for RA PURAM 2ND CROSS STREET

Ra Puram 2nd Cross Street guideline value

The current guideline value of Ra Puram 2nd Cross Street is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO, and is classified as Residential Special Type - III.

How the guideline value of Ra Puram 2nd Cross Street has changed

The guideline value for Ra Puram 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 16,000 per sq.ft, which was then reduced to Rs 10,720 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the value increased significantly to Rs 16,000 per sq.ft in 2023, and then to Rs 17,600 per sq.ft in 2024, representing a 10% rise from the previous year.

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

Guideline values in Mylapore

In Mylapore, there are a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Ra Puram 2nd Cross Street's 2024 figure above this median.

• Ra Puram 1st Main Road: Rs 17,600 per sq.ft (2024)
• Ra Puram 2nd Main Road: Rs 17,600 per sq.ft (2024)
• Ra Puram 1st Cross Street: 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 2nd 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 amounts to Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, bringing the total costs together to Rs 15,84,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ra Puram 2nd Cross Street?

The Sub Registrar Office that covers Ra Puram 2nd 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 property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ra Puram 2nd Cross Street?

The current guideline value of Ra Puram 2nd 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 2012 to Rs 10,720 per sq.ft in 2017, then increased to Rs 16,000 per sq.ft in 2023, and finally to Rs 17,600 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Ra Puram 2nd Cross Street?

For a property valued at Rs 1,76,00,000, the stamp duty would be Rs 12,32,000 and the registration fee would be Rs 3,52,000, totaling Rs 15,84,000.

Which office handles property registrations for Ra Puram 2nd Cross Street?

The Mylapore Sub Registrar Office handles property registrations for Ra Puram 2nd Cross Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Ra Puram 2nd Cross Street?

Ra Puram 2nd Cross Street is classified as Residential Special Type - III under the Mylapore SRO.