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. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, and it is classified as 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 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 guideline value was Rs 13,000 per sq.ft, and it increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

This increase reflects the changes made in the most recent revision, effective from 1 July 2024. The current value of Rs 14,300 per sq.ft marks a significant rise from the previous year’s figure of Rs 13,000 per sq.ft.

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, positioning Rathna Nagar 2st Street 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 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 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 details.

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 2

The guideline value is a critical factor in the registration process when buying or selling property in Mylapore Part 2. It is used to determine the stamp duty and registration fees that must be paid, ensuring that transactions are recorded accurately and legally.

When a property is sold, the guideline value helps establish a baseline for the transaction, ensuring that the government receives the appropriate taxes based on the property's worth. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

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 much has the guideline value changed recently?

Recently, the guideline value increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Rathna Nagar 2st Street?

Rathna Nagar 2st Street is classified as Residential Special Type - IV.

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.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a basis for calculating the financial obligations of buyers and sellers when registering property in Mylapore Part 2.