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 2 village under the Chennai Central Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Raja Krishna Rao Street has changed

According to the register, the guideline value for Raja Krishna Rao Street has undergone revisions over the years. The most recent revision in 2024 set the value at Rs 10,900 per sq.ft, which is an increase of 9% from the 2023 figure of Rs 10,000 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

In the 2023 revision, the guideline value was Rs 10,000 per sq.ft. The previous revisions do not have figures listed for this street, indicating that the register has not recorded values for those years.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 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 Raja Krishna Rao Street's 2024 value above this 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: 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raja Krishna Rao Street?

The Sub Registrar Office covering 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 2

The guideline value is a crucial factor in the registration process when buying or selling properties in Mylapore Part 2. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these costs are based on the guideline value or the sale price, whichever is higher, affecting the overall financial commitment involved in the transaction.

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 has the guideline value changed in recent years?

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% rise. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the classification of Raja Krishna Rao Street?

Raja Krishna Rao Street is classified as Residential Class I Type - I under the Chennai Central Joint I SRO.

Where can I find the registration office for Raja Krishna Rao Street?

The registration 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 stamp duty calculated for properties in Mylapore Part 2?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total cost of Rs 9,81,000 for stamp duty and registration fees combined.