Guideline Value for ROTARY NAGAR 8TH STREET/CROSS ST

Rotary Nagar 8th Street/Cross St guideline value

The current guideline value for Rotary Nagar 8th 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 8th Street/Cross St has changed

The guideline value for this street has undergone several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, and then further rose to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 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 for Rotary Nagar 8th Street/Cross St is below this median.

• Rotary Nagar 7th Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 9th 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 Main Road: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 5th Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 4th Street/Cross St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rotary Nagar 8th Street/Cross St

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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. It is important to note that 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 8th Street/Cross St?

The Rotary Nagar 8th 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 additional information.

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

The guideline value is a crucial factor when registering property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of a property.

When a property is bought or sold, the guideline value helps ensure that the transaction is recorded accurately and fairly in the official records. Buyers and sellers must consider this value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Rotary Nagar 8th Street/Cross St?

The current guideline value for Rotary Nagar 8th 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 to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Rotary Nagar 8th Street/Cross St?

The land classification for Rotary Nagar 8th Street/Cross St is Residential Class V Type - III.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar 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 8th 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% on the guideline value.