Guideline Value for Rathna Nagar 2st Street

Rathna Nagar 2st Street guideline value

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

How the guideline value of Rathna Nagar 2st Street has changed

The guideline value for Rathna Nagar 2st Street has seen revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 13,000 per sq.ft, which increased to Rs 14,300 per sq.ft in the 2024 revision, marking a 10% rise.

Prior to the 2023 revision, there were no recorded figures for Rathna Nagar 2st Street in the years mentioned. The current value of Rs 14,300 per sq.ft places it above the median value of Rs 8,800 per sq.ft for the 333 streets in Mylapore Part 1 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

The guideline values in Mylapore Part 1 range from Rs 4,400 to Rs 25,300 per sq.ft, with the median being Rs 8,800 per sq.ft. Rathna Nagar 2st Street's 2024 figure of Rs 14,300 per sq.ft is above this median.

• Rathna Nagar 1st Street: Rs 14,300 per sq.ft (2024)
• Rathna Nagar Main Road: Rs 14,300 per sq.ft (2024)
• Rathna Nagar: Rs 14,300 per sq.ft (2024)
• Rathna Sabapathy Chetty Street: Rs 7,700 per sq.ft (2024)
• Rathnam Street: Rs 8,700 per sq.ft (2024)
• Rathnam2st Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Rathna Nagar 2st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total to 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 further calculations.

Which Sub Registrar Office covers Rathna Nagar 2st Street?

The Sub Registrar Office that covers Rathna Nagar 2st Street 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 1

The guideline value is a crucial factor when registering property transactions in Mylapore Part 1. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When a buyer or seller engages in a property transaction, the guideline value helps determine the minimum value at which the property can be registered. This value is essential for both parties to understand the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Rathna Nagar 2st Street?

The current guideline value of Rathna Nagar 2st 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 has increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a 10% rise. There are no recorded figures 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, with Rathna Nagar 2st Street's current value being above this median.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 12,87,000.

Where can I find the Sub Registrar Office for Rathna Nagar 2st Street?

The Sub Registrar Office for Rathna Nagar 2st Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.