Guideline Value for ROHINIGARDEN MAIN ROAD

Rohinigarden Main Road guideline value

The current guideline value of Rohinigarden Main Road is Rs 8,800 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 - III.

How the guideline value of Rohinigarden Main Road has changed

The guideline value for Rohinigarden Main Road has seen significant changes over the years. In 2002, the value was Rs 1,377 per sq.ft, which increased to Rs 1,530 per sq.ft in 2003, marking a growth of 11%. By 2007, the value rose dramatically to Rs 1,540 per sq.ft, showing a minimal increase of 1%. The next revision in 2012 saw the value drop to Rs 8,000 per sq.ft, a decrease of 33%. In 2017, the value rebounded to Rs 5,360 per sq.ft, reflecting a substantial increase of 49%. The 2023 revision set the value at Rs 8,000 per sq.ft, before it was revised to Rs 8,800 per sq.ft in 2024, indicating a 10% increase.

There are no figures available for the revisions from years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 539%.

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. The median value is Rs 8,800 per sq.ft, which is equal to the current guideline value of Rohinigarden Main Road.

• Rohini Garden Cross Street: Rs 8,800 per sq.ft (2024)
• Robertson Street: Rs 8,800 per sq.ft (2024)
• Robertson Lane: Rs 6,000 per sq.ft (2024)
• Rosary Church 1st Lane (Sullivan Street parallel): Rs 9,300 per sq.ft (2024)
• Rosary Church 2nd Lane: Rs 9,300 per sq.ft (2024)
• Rosary Church Lane: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rohinigarden Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. 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 Rohinigarden Main Road?

The Sub Registrar Office that covers Rohinigarden Main Road 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 the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value as it influences the overall cost of property transactions.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue based on the property's assessed value, which is reflected in the guideline value.

Frequently asked questions

What is the current guideline value of Rohinigarden Main Road?

The current guideline value of Rohinigarden Main Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, with an overall increase of 539% from 2002 to 2024. The most recent revision saw a 10% increase from Rs 8,000 per sq.ft in 2023 to Rs 8,800 per sq.ft in 2024.

What is the classification of land on Rohinigarden Main Road?

Rohinigarden Main Road is classified as Residential Class III Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Rohinigarden Main Road?

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

How is the 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 typically charged at a rate of 7%, while the registration fee is charged at 2% of the guideline value or sale price.