Guideline Value for ROTARY NAGAR 5TH STREET/CROSS ST

Rotary Nagar 5th Street/Cross St guideline value

The current guideline value of Rotary Nagar 5th 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 it falls under the Residential Class V Type - III land classification.

How the guideline value of Rotary Nagar 5th Street/Cross St has changed

The guideline value for Rotary Nagar 5th Street/Cross St has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which represents a 10% increase from the 2023 revision of Rs 3,000 per sq.ft. The 2012 revision also recorded Rs 3,000 per sq.ft, indicating no change from 2012 to 2023. The register has no figure for the years 2002, 2003, 2007, and 2017.

Overall, from 2012 to 2024, the guideline value has increased by 10%. This change reflects the adjustments made in the value over the years, culminating in the current rate.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Rotary Nagar 5th Street/Cross St below that median.

• Rotary Nagar 4th 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 3rd Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 7th 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 8th Street/Cross St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rotary Nagar 5th 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, while the registration fee at 2% would be Rs 66,000. Together, these fees would total Rs 2,97,000. It is important to note that the 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 5th Street/Cross St?

The Rotary Nagar 5th Street/Cross St falls under the Mylapore Sub Registrar Office. The address is 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 a critical factor when registering a property in Mylapore. It determines the minimum value at which a property can be registered, influencing the stamp duty and registration fees applicable to the transaction.

When buying or selling property, both parties must consider the guideline value to ensure compliance with local regulations. This value is essential for calculating the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Rotary Nagar 5th Street/Cross St?

The current guideline value of Rotary Nagar 5th 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 increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. There was no change from 2012 to 2023, as the value remained Rs 3,000 per sq.ft during that period.

What is the land classification of Rotary Nagar 5th Street/Cross St?

Rotary Nagar 5th Street/Cross St is classified as Residential Class V Type - III. This classification is important for understanding the types of properties and uses permitted in the area.

What is the registration office for Rotary Nagar 5th Street/Cross St?

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

How is the stamp duty calculated for properties in Rotary Nagar 5th Street/Cross St?

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