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 2 village, 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

Over the years, the guideline value for Raghava Veera Avenue has seen several revisions. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 16,000 per sq.ft. The latest revision in 2024 increased this value by 9%, setting it at Rs 17,500 per sq.ft.

This increase from 2023 to 2024 reflects a notable change in the guideline value. The 2024 figure of Rs 17,500 per sq.ft is higher than the median value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a range of guideline values across its streets. The values for this area range from Rs 4,400 to Rs 25,300 per sq.ft, with the median being Rs 8,800 per sq.ft. Raghava Veera Avenue's 2024 figure is above this median.

• Radhakrishna Puram Street: Rs 4,400 per sq.ft (2024)
• Radhakrishna Puram: Rs 4,400 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)
• Purupettai Sardar Lane: Rs 7,700 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 guideline value of Rs 17,500 per sq.ft, the total guideline value would be Rs 1,75,00,000. The stamp duty at 7% would amount to Rs 12,25,000, while the registration fee at 2% would be Rs 3,50,000, bringing the total fees to Rs 15,75,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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 2

The guideline value is a crucial factor in the registration of property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during property transactions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are conducted transparently and fairly, reflecting the current market conditions as set by the registration authorities.

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 has changed from Rs 16,000 per sq.ft in 2023 to Rs 17,500 per sq.ft in 2024, reflecting a 9% increase. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Raghava Veera Avenue?

The land classification for Raghava Veera Avenue is Residential Special Type - III. This classification affects the guideline value and the regulations governing property transactions in the area.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,75,00,000, the stamp duty would be Rs 12,25,000, and the registration fee would be Rs 3,50,000, totaling Rs 15,75,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Raghava Veera Avenue is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014. This office handles the registration of properties in the area.