Guideline Value for RA PURAM 2ND MAIN ROAD

Ra Puram 2nd Main Road guideline value

The current guideline value of Ra Puram 2nd Main Road 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 2nd Main Road has changed

The guideline value for Ra Puram 2nd Main Road has seen significant changes over the years. In 2002, the value was Rs 2,478 per sq.ft, which increased to Rs 2,999 per sq.ft in 2003, marking a rise of 21%. The value continued to grow, reaching Rs 5,280 per sq.ft in 2007, a substantial increase of 76%. By 2012, the value remained steady at Rs 16,000 per sq.ft, which was unchanged until 2023.

The most recent revision in 2024 saw the guideline value rise to Rs 17,600 per sq.ft, reflecting a 10% increase from the previous year’s value of Rs 16,000 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 610%.

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, where the median value is Rs 8,800 per sq.ft. The guideline value of Ra Puram 2nd Main Road is above this median.

• Ra Puram 2nd Cross Street: Rs 17,600 per sq.ft (2024)
• Ra Puram 3rd Cross Street: Rs 17,600 per sq.ft (2024)
• Ra Puram 1st Main Road: Rs 17,600 per sq.ft (2024)
• Ra Puram 3rd Main Road: Rs 17,600 per sq.ft (2024)
• Ra Puram 1st Cross Street: 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 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 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, totaling Rs 15,84,000. It is important to note that the 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 Ra Puram 2nd Main Road?

The Sub Registrar Office that covers Ra Puram 2nd 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price alone.

When a property is registered, the guideline value helps determine the legal obligations for both buyers and sellers, making it an essential component of real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Ra Puram 2nd Main Road?

The current guideline value of Ra Puram 2nd 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 increased significantly from Rs 2,478 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, marking an overall increase of 610% over this period.

What is the land classification for Ra Puram 2nd Main Road?

Ra Puram 2nd Main Road is classified as Residential Special Type - III.

What are the stamp duty and registration fees for properties on this road?

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 registrations for Ra Puram 2nd Main Road?

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