Guideline Value for Raja Nagar Road

Raja Nagar Road guideline value

The current guideline value of Raja Nagar Road is Rs 8,700 per sq.ft, effective from 1 July 2024. This road is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Raja Nagar Road has changed

The guideline value for Raja Nagar Road has experienced several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was recorded at Rs 8,000 per sq.ft, and it increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

Thus, the most recent figures show an increase from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. This change reflects the latest valuation in the ongoing revisions of guideline values.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO that carry 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 Nagar Road is below this median.

• Raja Krishna Rao Street: Rs 10,900 per sq.ft (2024)
• Raja Krishna Rao Road: Rs 10,900 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)
• Raju Naicken Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Nagar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, while the registration fee at 2% would be Rs 1,74,000, making the total fees together Rs 7,83,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Raja Nagar Road?

The Sub Registrar Office covering Raja Nagar Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014. To locate your SRO, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor during property registration in Mylapore Part 1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the negotiated sale price.

When buying or selling property, the guideline value helps in determining the legal and financial obligations involved in the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Raja Nagar Road?

The current guideline value of Raja Nagar Road is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Raja Nagar Road has changed from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a +9% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft. Raja Nagar Road's guideline value is below this median.

What are the registration fees for property in Raja Nagar Road?

The registration fees for property in Raja Nagar Road include a stamp duty of 7% and a registration fee of 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 7,83,000.

Where is the Sub Registrar Office for Raja Nagar Road located?

The Sub Registrar Office for Raja Nagar Road is located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014, under the Chennai Central Joint I SRO.