Guideline Value for Raghava Veera Avenue

Raghava Veera Avenue guideline value

The current guideline value of Raghava Veera Avenue is Rs 17,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Raghava Veera Avenue has changed

In the 2023 revision, the guideline value for Raghava Veera Avenue was Rs 16,000 per sq.ft. The most recent revision in 2024 has increased this value to Rs 17,500 per sq.ft, marking a change of +9%. The register has no figures for this street for the years 2017, 2012, 2007, 2003, and 2002.

Thus, the only available revisions for Raghava Veera Avenue are from 2023 and 2024, with the guideline value rising from Rs 16,000 to Rs 17,500. This increase reflects the latest update in the property valuation for the area.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Raghava Veera Avenue's 2024 figure above the median.

• Radhakrishna Puram Street: Rs 4,400 per sq.ft (2024)
• Radhakrishna Puram: Rs 4,400 per sq.ft (2024)
• Pycrofts Nagar 1st Lane: Rs 13,200 per sq.ft (2024)
• Pycrofts Nagar: Rs 13,200 per sq.ft (2024)
• Raja Krishna Rao Road: Rs 10,900 per sq.ft (2024)
• Raja Krishna Rao Street: Rs 10,900 per sq.ft (2024)

Stamp duty and registration fee for property in Raghava Veera Avenue

For a 1,000 sq.ft plot at the current rate of Rs 17,500 per sq.ft, the guideline value would be Rs 1,75,00,000. The stamp duty at 7% would amount to Rs 12,25,000, and the registration fee at 2% would be Rs 3,50,000, totaling Rs 15,75,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raghava Veera Avenue?

The Sub Registrar Office that covers Raghava Veera Avenue is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is an essential factor in the registration process of property transactions in Mylapore Part 1. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Raghava Veera Avenue?

The current guideline value of Raghava Veera Avenue is Rs 17,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Raghava Veera Avenue was Rs 16,000 per sq.ft in 2023 and increased to Rs 17,500 per sq.ft in 2024, marking a change of +9%.

What is the land classification for Raghava Veera Avenue?

The land classification for Raghava Veera Avenue is Residential Special Type - III.

Where can I find the Sub Registrar Office for Raghava Veera Avenue?

The Sub Registrar Office for Raghava Veera Avenue is located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Raghava Veera Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 17,500 per sq.ft, the total guideline value would be Rs 1,75,00,000, leading to a stamp duty of Rs 12,25,000.