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 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Raja Nagar Road has changed

The guideline value for Raja Nagar Road has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 8,700 per sq.ft, which is an increase from the 2023 figure of Rs 8,000 per sq.ft, reflecting a change of +9%. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline value for Raja Nagar Road was not specified in the register for the mentioned years. The consistent updates in recent years highlight the evolving nature of the property values in this locality.

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 guideline value in this area is Rs 8,800 per sq.ft, placing Raja Nagar Road's 2024 figure below that 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 amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, totaling Rs 7,83,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Raja Nagar Road?

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

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role in property transactions in Mylapore Part 2. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers should be aware that the guideline value can influence the overall costs associated with property transactions.

When registering a property, it is essential to consider the guideline value as it is used to determine the applicable taxes and fees. This ensures that both parties are compliant with local regulations and understand the financial implications of their transaction.

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 much has the guideline value changed recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, marking a change of +9%.

What is the median guideline value in Mylapore Part 2?

The median guideline value in Mylapore Part 2 is Rs 8,800 per sq.ft, which is higher than the current value of Raja Nagar Road.

What are the stamp duty and registration fees for a property on Raja Nagar Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 87,00,000, leading to a stamp duty of Rs 6,09,000 and a registration fee of Rs 1,74,000, totaling Rs 7,83,000.

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

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