Guideline Value for RAJA KIRAMANI STREET

Raja Kiramani Street guideline value

The current guideline value of Raja Kiramani Street is Rs 3,300 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 Class V Type - III.

How the guideline value of Raja Kiramani Street has changed

The guideline value for Raja Kiramani Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to the current value of Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 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, with a median value of Rs 8,800 per sq.ft. The guideline value of Raja Kiramani Street is below this median.

• Raja Kiramani Thottam: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar Slum: Rs 3,300 per sq.ft (2024)
• Raja Muthaiahpuram (Tnscb Fire Proof): Rs 7,700 per sq.ft (2024)
• Raja Colony: Rs 8,800 per sq.ft (2024)
• RAJA ANNAMALAIPURAM EAST (Mandavelipakkam to Circle Road): Rs 17,600 per sq.ft (2024)
• Raja Annamalaipuram 14th Cross Street: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Kiramani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Raja Kiramani Street?

The Sub Registrar Office that covers Raja Kiramani 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 further assistance.

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 minimum value at which a property can be registered, ensuring that all transactions are documented accurately according to the prescribed rates.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Raja Kiramani Street?

The current guideline value of Raja Kiramani Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Raja Kiramani Street?

The land classification for Raja Kiramani Street is Residential Class V Type - III.

Where can I find the Sub Registrar Office for Raja Kiramani Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,97,000.