Guideline Value for ROTARY NAGAR 1ST STREET/CROSS ST

Rotary Nagar 1st Street/Cross St guideline value

The current guideline value of Rotary Nagar 1st Street/Cross St is Rs 3,300 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 V Type - III.

How the guideline value of Rotary Nagar 1st Street/Cross St has changed

The guideline value for Rotary Nagar 1st Street/Cross St has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was later revised to Rs 2,010 per sq.ft in 2017. This marked a decrease of 33%. Subsequently, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then rose again by 10% to reach Rs 3,300 per sq.ft in 2024.

From 2017 to 2023, the increase was substantial at 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

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 value in this area is Rs 8,800 per sq.ft, indicating that the 2024 guideline value for Rotary Nagar 1st Street/Cross St is below this median.

• Rotary Nagar 18th Street: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 2nd Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 17th Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 3rd Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 10th To 16th Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 4th Street/Cross St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rotary Nagar 1st Street/Cross St

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rotary Nagar 1st Street/Cross St?

The Sub Registrar Office that covers Rotary Nagar 1st Street/Cross St 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 is an important factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly in the official records. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Rotary Nagar 1st Street/Cross St?

The current guideline value for Rotary Nagar 1st Street/Cross St 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 changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the classification of Rotary Nagar 1st Street/Cross St?

Rotary Nagar 1st Street/Cross St is classified as Residential Class V Type - III.

Where can I find the Sub Registrar Office for Rotary Nagar 1st Street/Cross St?

The Sub Registrar Office for Rotary Nagar 1st Street/Cross St is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for property in Rotary Nagar 1st Street/Cross St?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.