Guideline Value for RAJASEKARAN 1ST LANE

Rajasekaran 1st Lane guideline value

The current guideline value of Rajasekaran 1st Lane is Rs 13,200 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 II Type - I.

How the guideline value of Rajasekaran 1st Lane has changed

The guideline value for Rajasekaran 1st Lane has seen several revisions over the years. In 2002, the value was Rs 1,219 per sq.ft, which increased to Rs 1,354 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose significantly to Rs 1,540 per sq.ft, a change of 14%. The next revision in 2012 saw the value remain at Rs 12,000 per sq.ft, a decrease of 33% from the previous figure. In 2017, the guideline value increased to Rs 8,040 per sq.ft, reflecting a 49% rise. The most recent revision in 2023 set the value at Rs 12,000 per sq.ft, which then increased by 10% to the current value of Rs 13,200 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 983%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Mylapore

In Mylapore village, 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, with a median value of Rs 8,800 per sq.ft. Rajasekaran 1st Lane's current guideline value is above this median.

• Rajasekaran 1st Street: Rs 13,200 per sq.ft (2024)
• Rajasekaran 2nd Street: Rs 13,200 per sq.ft (2024)
• Rajasekaran Street: Rs 17,600 per sq.ft (2024)
• Raja Street: Rs 9,300 per sq.ft (2024)
• Raja Street Extension: Rs 9,300 per sq.ft (2024)
• Raja Muthaiahpuram (Tnscb Fire Proof): Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Rajasekaran 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000. Together, the total cost for these fees would be Rs 11,88,000. It is important to note that 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 further assistance.

Which Sub Registrar Office covers Rajasekaran 1st Lane?

The Sub Registrar Office that covers Rajasekaran 1st Lane 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 in property transactions in Mylapore. It is used as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the fees associated with registration.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Rajasekaran 1st Lane?

The current guideline value of Rajasekaran 1st Lane is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 1,219 per sq.ft in 2002 to the current value of Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 983%.

What is the land classification of Rajasekaran 1st Lane?

Rajasekaran 1st Lane is classified as Residential Class II Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for a property in Rajasekaran 1st Lane?

For a property valued at Rs 1,32,00,000 in Rajasekaran 1st Lane, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Where is the Sub Registrar Office for Rajasekaran 1st Lane located?

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