Guideline Value for ROTARY NAGAR 9TH STREET/CROSS ST

Rotary Nagar 9th Street/Cross St guideline value

The current guideline value for Rotary Nagar 9th 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 9th Street/Cross St has changed

The guideline value for Rotary Nagar 9th Street/Cross St has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,000 per sq.ft. Prior to that, the guideline value was Rs 3,000 per sq.ft in the 2012 revision, indicating no change from the 2012 to 2023 period.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2017. Overall, from the 2012 revision to the 2024 revision, 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 9th Street/Cross St is below this median.

• Rotary Nagar 8th Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 7th 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 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 9th 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 cost for these fees 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 more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rotary Nagar 9th Street/Cross St?

The Sub Registrar Office that covers Rotary Nagar 9th 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 a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a baseline for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rotary Nagar 9th Street/Cross St?

The current guideline value of Rotary Nagar 9th 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, marking a 10% increase. The value remained the same at Rs 3,000 per sq.ft from 2012 to 2023.

What are the other streets in Mylapore with the same guideline value?

Other streets in Mylapore with the same guideline value of Rs 3,300 per sq.ft in 2024 include Rotary Nagar 8th Street/Cross St, Rotary Nagar Main Road, Rotary Nagar 7th Street/Cross St, Rotary Nagar 6th Street/Cross St, Rotary Nagar 5th Street/Cross St, and Rotary Nagar 4th Street/Cross St.

How is stamp duty calculated for properties in Rotary Nagar 9th Street/Cross St?

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

Where can I find the Sub Registrar Office for Rotary Nagar 9th Street/Cross St?

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