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, effective from 1 July 2024. This road is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, classified as 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 figure for this street 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 to Rs 10,900 per sq.ft in the 2024 revision, marking a change of +9%.

Prior to the 2023 revision, the register does not contain any figures for the years mentioned. The most recent revision reflects a significant update, indicating the current valuation for this street.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with guideline values 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 Raja Krishna Rao Road's 2024 figure 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: 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 rate of Rs 10,900 per sq.ft, the guideline value amounts to Rs 1,09,00,000. The stamp duty at 7% would be Rs 7,63,000, and the registration fee at 2% would be Rs 2,18,000, totaling Rs 9,81,000. It is important to note that 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 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 2

The guideline value is a crucial factor in property transactions as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when agreeing on sale prices to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal property transactions. This ensures that the government receives the appropriate revenue from property sales.

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 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 10,000 per sq.ft in 2023 to Rs 10,900 per sq.ft in 2024, reflecting a +9% change. There are no figures available for this street in the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Mylapore Part 2?

The guideline values for other streets in Mylapore Part 2 vary significantly, with a median value of Rs 8,800 per sq.ft. Raja Krishna Rao Road is valued above this median at Rs 10,900 per sq.ft.

What fees are associated with buying property on Raja Krishna Rao Road?

When buying property on Raja Krishna Rao Road, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total fee of Rs 9,81,000.

Where can I find the Sub Registrar Office for Raja Krishna Rao Road?

The Sub Registrar Office for Raja Krishna Rao Road is located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014. You can find more information through the provided link.