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Guideline Value

Corporate

Guideline Value for RAMA RAO GARDEN 2ND STREET (BALAJI NAGAR)

₹9900/sq.ft.

The guideline value for Rama Rao Garden 2nd 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 N/A
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 2nd Street (balaji Nagar)

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Rama Rao Garden 2nd Street (Balaji Nagar) guideline value

The current guideline value of Rama Rao Garden 2nd 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 2nd Street (Balaji Nagar) has changed

Over the years, the guideline value for Rama Rao Garden 2nd Street has seen a few revisions. The most recent revision in 2024 set the value at Rs 9,900 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 9,000 per sq.ft. Prior to this, the guideline value remained unchanged at Rs 9,000 per sq.ft from the 2012 revision until 2023.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Mylapore

In Mylapore, there are 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, making the current guideline value of Rama Rao Garden 2nd Street (Balaji Nagar) above this median.

Stamp duty and registration fee for property in Rama Rao Garden 2nd 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 amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total fees to Rs 8,91,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rama Rao Garden 2nd Street (Balaji Nagar)?

The Sub Registrar Office that covers Rama Rao Garden 2nd 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from the transaction through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Rama Rao Garden 2nd Street?

The current guideline value of Rama Rao Garden 2nd 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 2023 to Rs 9,900 per sq.ft in 2024. It remained at Rs 9,000 per sq.ft from the 2012 revision until 2023.

What is the land classification for Rama Rao Garden 2nd Street?

Rama Rao Garden 2nd Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Rama Rao Garden 2nd Street (Balaji Nagar) is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is charged at a rate of 7%, along with a registration fee of 2% on the guideline value or sale price.