Guideline Value for Rathna Chetty St

Rathna Chetty St guideline value

The current guideline value of Rathna Chetty St is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village, under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Rathna Chetty St has changed

The guideline value for Rathna Chetty St 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 of 9% from the 2023 revision of Rs 8,000 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the last recorded guideline value was Rs 8,000 per sq.ft in 2023. The register does not provide figures for the years leading up to 2023, indicating a lack of recorded changes for this street during those periods.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with 2024 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, positioning Rathna Chetty St's current value below the median.

• Rathnam 1st Street: Rs 8,700 per sq.ft (2024)
• Rathnam2st Street: Rs 8,700 per sq.ft (2024)
• Rathnam Street: Rs 8,700 per sq.ft (2024)
• Rathna Nagar: Rs 14,300 per sq.ft (2024)
• Rathna Nagar 1st Street: Rs 14,300 per sq.ft (2024)
• Rathna Nagar 2st Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rathna Chetty St

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, and the registration fee at 2% would be Rs 1,74,000, leading to a total of Rs 7,83,000. 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 Rathna Chetty St?

The Sub Registrar Office that covers Rathna Chetty St is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts 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 in Mylapore Part 2. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rathna Chetty St?

The current guideline value of Rathna Chetty St 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 9% increase.

What is the land classification for Rathna Chetty St?

Rathna Chetty St is classified as Residential Class I Type - III, indicating its suitability for residential development.

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 87,00,000 would incur a stamp duty of Rs 6,09,000 and a registration fee of Rs 1,74,000.