Guideline Value for Raja Krishna Rao Street

Raja Krishna Rao Street guideline value

The current guideline value of Raja Krishna Rao Street is Rs 10,900 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 Class I Type - I.

How the guideline value of Raja Krishna Rao Street has changed

According to the register, there are no figures available for Raja Krishna Rao Street for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that in 2023, 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 increase reflects the latest valuation adjustments made by the registration department. The transition from Rs 10,000 in 2023 to Rs 10,900 in 2024 highlights a notable change in the guideline value for this street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 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 guideline value for this area is Rs 8,800 per sq.ft, placing Raja Krishna Rao Street's 2024 figure above that median.

• Raja Krishna Rao Road: 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 Street

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, bringing the total to Rs 9,81,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Krishna Rao Street?

The Sub Registrar Office that covers Raja Krishna Rao Street 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 plays a crucial role in the property registration process in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. This ensures transparency and compliance with local regulations during the property transaction process.

Frequently asked questions

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

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

How much has the guideline value changed recently?

The guideline value increased from Rs 10,000 per sq.ft in 2023 to Rs 10,900 per sq.ft in 2024, marking a 9% increase.

What is the land classification for Raja Krishna Rao Street?

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

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Raja Krishna Rao Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated in Mylapore Part 1?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, if the guideline value is Rs 1,09,00,000, the stamp duty at 7% would be Rs 7,63,000.