Guideline Value for ROTARY NAGAR 4TH STREET/CROSS ST

Rotary Nagar 4th Street/Cross St guideline value

The current guideline value of Rotary Nagar 4th 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 4th Street/Cross St has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 3,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Rotary Nagar 4th Street/Cross St's 2024 figure below that median.

• Rotary Nagar 3rd 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 2nd Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 6th 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 7th Street/Cross St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rotary Nagar 4th Street/Cross St

For a 1,000 sq.ft plot at the current rate, the guideline value is 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 4th Street/Cross St?

The Sub Registrar Office that covers Rotary Nagar 4th 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 information.

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

The guideline value is an essential factor during the registration of property transactions in Mylapore. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value will determine the minimum value on which these fees are calculated. It is crucial for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rotary Nagar 4th Street/Cross St?

The current guideline value of Rotary Nagar 4th 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 3,300 per sq.ft in 2024, reflecting a 10% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What is the classification of Rotary Nagar 4th Street/Cross St?

Rotary Nagar 4th Street/Cross St is classified as Residential Class V Type - III under the Mylapore SRO.

What are the stamp duty and registration fees for property in Rotary Nagar 4th Street/Cross St?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which office handles property registrations for Rotary Nagar 4th Street/Cross St?

The Mylapore Sub Registrar Office handles property registrations for Rotary Nagar 4th Street/Cross St, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.