Guideline Value for RAGHAVA THOTTAM 1ST STREET

Raghava Thottam 1st Street guideline value

The current guideline value of Raghava Thottam 1st Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - II.

How the guideline value of Raghava Thottam 1st Street has changed

The guideline value for Raghava Thottam 1st Street has seen several revisions over the years. Starting from Rs 612 per sq.ft in 2002, it increased to Rs 680 per sq.ft in 2003, marking an 11% rise. The next revision in 2012 saw the value at Rs 4,500 per sq.ft, a significant increase of 562% from 2003. However, this was followed by a decrease of 33% to Rs 3,015 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 4,500 per sq.ft, and the most recent revision in 2024 set it at Rs 4,900 per sq.ft, reflecting a 9% increase from the previous year.

Notably, the register has no figure for Raghava Thottam 1st Street in 2007. Overall, from 2002 to 2024, the guideline value has increased by 701%.

Guideline values in Mylapore

Mylapore village has 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 in this area is Rs 8,800 per sq.ft, positioning Raghava Thottam 1st Street's 2024 figure below this median.

• Raghava Thottam Main Road: Rs 4,900 per sq.ft (2024)
• Raghava Naickan Thottam: Rs 4,900 per sq.ft (2024)
• Raghava Lane: Rs 4,900 per sq.ft (2024)
• Raja Annamalaipuram 11th Cross Street: Rs 17,600 per sq.ft (2024)
• Raja Annamalaipuram 12th Cross Street: Rs 17,600 per sq.ft (2024)
• Raja Annamalaipuram 13th Cross Street: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Raghava Thottam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost to Rs 4,41,000. 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 Raghava Thottam 1st Street?

The Sub Registrar Office that covers Raghava Thottam 1st 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the guideline value, as it directly impacts the overall costs involved in the registration process. Understanding these values can help buyers and sellers navigate the financial aspects of property transactions more effectively.

Frequently asked questions

What is the current guideline value of Raghava Thottam 1st Street?

The current guideline value of Raghava Thottam 1st Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 612 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 701% over this period.

What is the land classification for Raghava Thottam 1st Street?

Raghava Thottam 1st Street is classified as Residential Class V Type - II.

Where can I find the Mylapore Sub Registrar Office?

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

How is stamp duty calculated for properties in Raghava Thottam 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at 7% of the guideline value.