Guideline Value for ROYAPETTAH 3RD STREET

Royapettah 3rd Street guideline value

The current guideline value of Royapettah 3rd 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 3rd Street has changed

The guideline value for Royapettah 3rd 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, it then decreased to Rs 6,030 per sq.ft in 2017. The value rose again to Rs 9,000 per sq.ft in 2023 and is currently at Rs 9,900 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the increase was 10%. The overall change from 2007 to 2024 reflects a significant increase of 543% in the guideline value.

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. The median value for these streets is Rs 8,800 per sq.ft, placing Royapettah 3rd Street above this median at Rs 9,900 per sq.ft.

• Royapettah 2nd Street: Rs 9,900 per sq.ft (2024)
• Royapettah 1st 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)
• RUTHER FORD PURAM (Dr.Radha Krishnan Salai , Dr.Natesan Road): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Royapettah 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be 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 duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Royapettah 3rd Street?

The Sub Registrar Office covering Royapettah 3rd 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 crucial factor in property transactions in Mylapore, as it determines the minimum price at which a property can be registered. Buyers must consider this value when negotiating the sale price, as the registration fees and stamp duty are based on the guideline value or the sale price, whichever is higher.

When selling property, sellers must also be aware of the guideline value, as it can influence buyer perception and the overall transaction process. Accurate knowledge of the guideline value helps both parties understand the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Royapettah 3rd Street?

The current guideline value of Royapettah 3rd 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 significantly from Rs 1,540 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 543%.

What is the land classification for Royapettah 3rd Street?

Royapettah 3rd Street is classified as Residential Class III Type - I.

Where is the Sub Registrar Office for Royapettah 3rd Street located?

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 property in Royapettah 3rd Street?

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