Guideline Value for RAJA KIRAMANI THOTTAM

Raja Kiramani Thottam guideline value

The current guideline value of Raja Kiramani Thottam 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 with a land classification of Residential Class V Type - III.

How the guideline value of Raja Kiramani Thottam has changed

The guideline value for Raja Kiramani Thottam has undergone several revisions over the years. The earliest recorded revision was in 2002, with a guideline value of Rs 612 per sq.ft. This value increased to Rs 680 per sq.ft in 2003, marking an increase of 11%. The next significant jump occurred in 2007, when the value rose to Rs 900 per sq.ft, a change of 32%. In 2012, the value reached Rs 3,000 per sq.ft, reflecting a substantial increase of 233% from the previous revision.

Moving forward to 2017, the guideline value was Rs 2,010 per sq.ft, showing a decrease of 33% from 2012. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 3,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

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, and a median value of Rs 8,800 per sq.ft. The guideline value for Raja Kiramani Thottam is below this median.

• Raja Kiramani Street: 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 Thottam

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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raja Kiramani Thottam?

The Sub Registrar Office that covers Raja Kiramani Thottam 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 during property registration in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring that the transaction is officially recorded.

When purchasing or selling property, the guideline value must be considered as it affects the overall cost of the transaction. It is essential for both parties to understand the implications of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Raja Kiramani Thottam?

The current guideline value of Raja Kiramani Thottam 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 seen various changes, from Rs 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 439% since 2002.

What is the land classification of Raja Kiramani Thottam?

Raja Kiramani Thottam is classified as Residential Class V Type - III under the Mylapore SRO.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 2,97,000 in fees.

Which office handles the registration for Raja Kiramani Thottam?

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