Guideline Value for Rathna Nagar 1st Street

Rathna Nagar 1st Street guideline value

The current guideline value of Rathna Nagar 1st Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Rathna Nagar 1st Street has changed

The guideline value for Rathna Nagar 1st Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the value was Rs 13,000 per sq.ft, which increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

This change reflects the adjustments made in the guideline values over the years, with the most recent revision marking a significant increase. The current figure of Rs 14,300 per sq.ft is the only available data from the 2024 revision.

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 value for these streets is Rs 8,800 per sq.ft, and Rathna Nagar 1st Street's current figure is above this median.

• Rathna Nagar 2st Street: Rs 14,300 per sq.ft (2024)
• Rathna Nagar: Rs 14,300 per sq.ft (2024)
• Rathna Nagar Main Road: Rs 14,300 per sq.ft (2024)
• Rathnam Street: Rs 8,700 per sq.ft (2024)
• Rathnam2st Street: Rs 8,700 per sq.ft (2024)
• Rathna Sabapathy Chetty Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Rathna Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 14,300 per sq.ft, the guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Rathna Nagar 1st Street?

The Sub Registrar Office that covers Rathna Nagar 1st Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, you can 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 a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value during negotiations and final agreements.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction reflects a fair value according to the prevailing rates set by the registration department.

Frequently asked questions

What is the current guideline value of Rathna Nagar 1st Street?

The current guideline value of Rathna Nagar 1st Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rathna Nagar 1st Street was Rs 13,000 per sq.ft in 2023 and increased by 10% to Rs 14,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Rathna Nagar 1st Street?

The land classification for Rathna Nagar 1st Street is Residential Special Type - IV. This classification indicates the type of development permissible in the area.

What are the stamp duty and registration fees for properties in Rathna Nagar 1st Street?

For a property valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000, and the registration fee would be Rs 2,86,000, totaling Rs 12,87,000. Duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Rathna Nagar 1st Street?

The Chennai Central Joint I Sub Registrar Office covers Rathna Nagar 1st Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.