Guideline Value for RA PURAM 3RD MAIN ROAD

Ra Puram 3rd Main Road guideline value

The current guideline value of Ra Puram 3rd Main Road is Rs 17,600 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village, falling under the Mylapore SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Ra Puram 3rd Main Road has changed

Over the years, the guideline value of Ra Puram 3rd Main Road has experienced several revisions. The earliest recorded figure is from 2002, which was Rs 2,478 per sq.ft. This figure increased to Rs 2,753 per sq.ft in 2003, showing a change of +11%. The guideline value then saw a modest increase to Rs 2,800 per sq.ft in 2007, marking a +2% rise. A significant jump occurred in 2012, where the value rose to Rs 16,000 per sq.ft, reflecting an increase of +471%. However, this was followed by a decrease to Rs 10,720 per sq.ft in 2017, showing a decline of -33%. The value then increased to Rs 16,000 per sq.ft in 2023, before reaching the current figure of Rs 17,600 per sq.ft in 2024, which is a +10% change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +610%. Notably, there are no figures available for the revisions of the years not mentioned in the register for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry 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, placing Ra Puram 3rd Main Road's 2024 figure above that median.

• Ra Puram 3rd Cross Street: Rs 17,600 per sq.ft (2024)
• Ra Puram 4th Cross Street: Rs 17,600 per sq.ft (2024)
• Ra Puram 2nd Main Road: Rs 17,600 per sq.ft (2024)
• Ra Puram 4th Main Road: Rs 17,600 per sq.ft (2024)
• Ra Puram 2nd Cross Street: Rs 17,600 per sq.ft (2024)
• Ra Puram 5th Main Road: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ra Puram 3rd 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, while the registration fee at 2% would be Rs 3,52,000. Together, these fees would total Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ra Puram 3rd Main Road?

The Sub Registrar Office that covers Ra Puram 3rd 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 crucial factor when registering property transactions in Mylapore. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the sale price alone.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency in the transaction process and helps in determining the associated costs for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Ra Puram 3rd Main Road?

The current guideline value of Ra Puram 3rd 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 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 the years.

What is the land classification for Ra Puram 3rd Main Road?

The land classification for Ra Puram 3rd Main Road is 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.

Where is the Sub Registrar Office located for Ra Puram 3rd Main Road?

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