Guideline Value for ROTARY NAGAR 2ND STREET/CROSS ST

Rotary Nagar 2nd Street/Cross St guideline value

The current guideline value of Rotary Nagar 2nd 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 2nd Street/Cross St has changed

The guideline value for Rotary Nagar 2nd Street/Cross St has seen several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. The value then increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and finally, it rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, 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, with a median value of Rs 8,800 per sq.ft. The guideline value of Rotary Nagar 2nd Street/Cross St is below this median.

• Rotary Nagar 1st 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 18th Street: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 4th 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 5th Street/Cross St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rotary Nagar 2nd 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 amounts to 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, totaling Rs 2,97,000. 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 Rotary Nagar 2nd Street/Cross St?

The Rotary Nagar 2nd Street/Cross St is covered by 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 important factor when registering property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is bought or sold, the guideline value is used to calculate the applicable charges. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the appropriate fees are collected during registration.

Frequently asked questions

What is the current guideline value of Rotary Nagar 2nd Street/Cross St?

The current guideline value of Rotary Nagar 2nd 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 back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Rotary Nagar 2nd Street/Cross St?

The Mylapore Sub Registrar Office handles registrations for Rotary Nagar 2nd Street/Cross St, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value as it influences the total costs involved in the registration process.