Guideline Value for ROTARY NAGAR 3RD STREET/CROSS ST

Rotary Nagar 3rd Street/Cross St guideline value

The current guideline value of Rotary Nagar 3rd Street/Cross St is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO, classified as Residential Class V Type - III.

How the guideline value of Rotary Nagar 3rd Street/Cross St has changed

From the 2012 revision, the guideline value for Rotary Nagar 3rd Street/Cross St was Rs 3,000 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value increased to Rs 3,000 per sq.ft, and then saw a further increase of 10% to Rs 3,300 per sq.ft in the 2024 revision.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 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, with a median value of Rs 8,800 per sq.ft. The guideline value of Rotary Nagar 3rd Street/Cross St is below this median.

• Rotary Nagar 2nd Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 4th Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 1st Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 5th Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 18th Street: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 6th Street/Cross St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rotary Nagar 3rd 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Rotary Nagar 3rd Street/Cross St?

The Sub Registrar Office that covers Rotary Nagar 3rd 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 a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges reflect the official valuation of the property.

When a property is registered, the guideline value is used to determine the applicable fees, which are charged based on the higher of the guideline value or the sale price. This practice helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Rotary Nagar 3rd Street/Cross St?

The current guideline value of Rotary Nagar 3rd 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 increased from Rs 3,000 per sq.ft in 2012 to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from 2023 to 2024.

What is the land classification for Rotary Nagar 3rd Street/Cross St?

Rotary Nagar 3rd Street/Cross St is classified as Residential Class V Type - III.

What are the stamp duty and registration fees for a property 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.

Where is the Sub Registrar Office for Rotary Nagar 3rd Street/Cross St located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, crescent Street Alwarpet, Chennai -600018.