Guideline Value for Raja Krishna Rao Road

Raja Krishna Rao Road guideline value

The current guideline value of Raja Krishna Rao Road is Rs 10,900 per sq.ft. This road is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Raja Krishna Rao Road has changed

The guideline value for Raja Krishna Rao Road has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 10,000 per sq.ft, which increased by 9% to Rs 10,900 per sq.ft in the 2024 revision.

This change reflects the current market conditions as of July 1, 2024. The guideline value has increased from Rs 10,000 in 2023 to Rs 10,900 in 2024, indicating a significant adjustment in the valuation for this street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, a total of 333 streets under the Chennai Central Joint I SRO have a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Raja Krishna Rao Road is above this median.

• Raja Krishna Rao Street: Rs 10,900 per sq.ft (2024)
• Raja Nagar Road: Rs 8,700 per sq.ft (2024)
• Raghava Veera Avenue: Rs 17,500 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Raja Krishna Rao Road

For a 1,000 sq.ft plot at the current guideline value of Rs 10,900 per sq.ft, the total guideline value would be Rs 1,09,00,000. The stamp duty at 7% would amount to Rs 7,63,000, and the registration fee at 2% would be Rs 2,18,000, making the total cost Rs 9,81,000. 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 Raja Krishna Rao Road?

The Sub Registrar Office that covers Raja Krishna Rao Road 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 when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Raja Krishna Rao Road?

The current guideline value of Raja Krishna Rao Road is Rs 10,900 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,000 per sq.ft in 2023 to Rs 10,900 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Raja Krishna Rao Road?

The land classification for Raja Krishna Rao Road is Residential Class I Type - I, indicating its designation for residential use.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Raja Krishna Rao Road is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Where is the Sub Registrar Office located?

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