Guideline Value for ROTARY NAGAR 6TH STREET/CROSS ST

Rotary Nagar 6th Street/Cross St guideline value

The current guideline value of Rotary Nagar 6th 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 6th Street/Cross St has changed

The guideline value for Rotary Nagar 6th Street/Cross St has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and then rose again to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

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 for Rotary Nagar 6th Street/Cross St is below this median.

• Rotary Nagar 5th 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 4th Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 8th 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 9th Street/Cross St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rotary Nagar 6th 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rotary Nagar 6th Street/Cross St?

The Rotary Nagar 6th Street/Cross St falls under the jurisdiction of 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 plays a crucial role in the registration process of property transactions in Mylapore. It serves as a benchmark for determining the minimum value of a property, ensuring that the property is not undervalued during the sale.

When a buyer purchases a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate taxes based on the property's value at the time of registration.

Frequently asked questions

What is the current guideline value for Rotary Nagar 6th Street/Cross St?

The current guideline value for Rotary Nagar 6th 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 2023 to Rs 3,300 per sq.ft in 2024, and from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023.

What is the land classification for Rotary Nagar 6th Street/Cross St?

Rotary Nagar 6th Street/Cross St is classified as Residential Class V Type - III.

Where can I find the Sub Registrar Office for Rotary Nagar 6th Street/Cross St?

The Mylapore Sub Registrar Office covers Rotary Nagar 6th Street/Cross St and is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in Rotary Nagar 6th Street/Cross St?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.