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Guideline Value

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Guideline Value for RAMA RAO GARDEN 1ST STREET (BALAJI NAGAR)

₹9900/sq.ft.

The guideline value for Rama Rao Garden 1st Street (balaji Nagar) in Mylapore village (Mylapore SRO, Chennai zone) is Rs 9900 per sq.ft, effective 1 July 2024. It was Rs 9000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Mylapore

Village

Mylapore

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹9900 /sq.ft.
From 1-4-2023 ₹9000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹6030 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹9000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony ,cresent Street Alwarpet,chennai -600018
044-24640344
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Rama Rao Garden 1st Street (balaji Nagar)

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Rama Rao Garden 1st Street (Balaji Nagar) guideline value

The current guideline value of Rama Rao Garden 1st Street (Balaji Nagar) is Rs 9,900 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 III Type - I.

How the guideline value of Rama Rao Garden 1st Street (Balaji Nagar) has changed

The guideline value for Rama Rao Garden 1st Street (Balaji Nagar) has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 9,000 per sq.ft. This was followed by a decrease to Rs 6,030 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 9,000 per sq.ft. The most recent revision in 2024 saw an increase of 10%, setting the current guideline value at Rs 9,900 per sq.ft.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 for these streets is Rs 8,800 per sq.ft, making the current value of Rama Rao Garden 1st Street (Balaji Nagar) above this median.

Stamp duty and registration fee for property in Rama Rao Garden 1st Street (Balaji Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Rama Rao Garden 1st Street (Balaji Nagar)?

The Sub Registrar Office that covers Rama Rao Garden 1st Street (Balaji Nagar) 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 is an essential factor in the property registration process in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees when a property is bought or sold, ensuring that the transaction is recorded at a fair value as per government standards.

When you engage in a property transaction, the guideline value will be used to calculate the applicable fees, which are mandatory for legal registration. This process helps maintain transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Rama Rao Garden 1st Street (Balaji Nagar)?

The current guideline value of Rama Rao Garden 1st Street (Balaji Nagar) is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,000 per sq.ft in 2012 to Rs 6,030 per sq.ft in 2017, then increased to Rs 9,000 per sq.ft in 2023, and finally to Rs 9,900 per sq.ft in 2024.

What is the land classification of Rama Rao Garden 1st Street (Balaji Nagar)?

Rama Rao Garden 1st Street (Balaji Nagar) is classified as Residential Class III Type - I.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would be Rs 8,91,000.

Which office handles the registration for this area?

The Mylapore Sub Registrar Office handles the registration for Rama Rao Garden 1st Street (Balaji Nagar), located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.