Guideline Value for ROYAPETTAH 2ND STREET

Royapettah 2nd Street guideline value

The current guideline value of Royapettah 2nd Street is Rs 9,900 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 III Type - I.

How the guideline value of Royapettah 2nd Street has changed

The guideline value for Royapettah 2nd Street has seen several revisions over the years. In 2007, the value was Rs 1,540 per sq.ft, which increased significantly to Rs 9,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 6,030 per sq.ft in 2017. The value then rose to Rs 9,000 per sq.ft in 2023, before reaching its current value of Rs 9,900 per sq.ft in 2024. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the changes are as follows: from 2007 to 2012, there was an increase of 484%; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 543%.

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 of Royapettah 2nd Street is above this median.

• Royapettah 1st Street: Rs 9,900 per sq.ft (2024)
• Royapettah 3rd Street: Rs 9,900 per sq.ft (2024)
• ROYAPETTAH HIGH ROAD (From Luz Corner to Beemasena Garden st): Rs 15,400 per sq.ft (2024)
• Rotary Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 9th 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 Royapettah 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Royapettah 2nd Street?

The Sub Registrar Office that covers Royapettah 2nd Street 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 critical component in the registration process for property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When you proceed with a transaction, the guideline value is assessed to ensure that the appropriate fees are calculated based on the higher of the guideline value or the sale price. This ensures compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Royapettah 2nd Street?

The current guideline value of Royapettah 2nd Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,540 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, showing an overall increase of 543% over the years.

What is the land classification for Royapettah 2nd Street?

Royapettah 2nd Street is classified as Residential Class III Type - I according to the Mylapore SRO guidelines.

Where can I find the Sub Registrar Office for Royapettah 2nd Street?

The Sub Registrar Office for Royapettah 2nd Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How are stamp duties calculated for properties in Mylapore?

Stamp duties are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 99,00,000 would incur a stamp duty of Rs 6,93,000 at a rate of 7%.