Guideline Value for Rathna Nagar Main Road

Rathna Nagar Main Road guideline value

The current guideline value of Rathna Nagar Main Road is Rs 14,300 per sq.ft, effective from 1 July 2024. This road is located in Mylapore Part 2 village, 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 Main Road has changed

Over the years, the guideline value for Rathna Nagar Main Road has seen several revisions. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was set at Rs 13,000 per sq.ft, and in 2024, it increased to Rs 14,300 per sq.ft, marking a change of +10% from the previous year.

The 2024 revision reflects the current market conditions, with the guideline value now positioned significantly higher than the previous revisions. The latest figure of Rs 14,300 per sq.ft indicates a notable increase in the valuation of this street.

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 for these streets is Rs 8,800 per sq.ft, and Rathna Nagar Main Road's 2024 figure is above that median.

• Rathna Nagar 2st Street: Rs 14,300 per sq.ft (2024)
• Rathna Nagar 1st Street: Rs 14,300 per sq.ft (2024)
• Rathna Sabapathy Chetty Street: Rs 7,700 per sq.ft (2024)
• Rathna Nagar: 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)

Stamp duty and registration fee for property in Rathna Nagar Main Road

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, while the registration fee at 2% would be Rs 2,86,000. Together, the total cost for stamp duty and registration fee would be 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rathna Nagar Main Road?

The Sub Registrar Office that covers Rathna Nagar Main Road 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 further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rathna Nagar Main Road?

The current guideline value of Rathna Nagar Main Road 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 changed from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, which is an increase of +10%. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Rathna Nagar Main Road?

The land classification for Rathna Nagar Main Road is Residential Special Type - IV, indicating its designated use for residential purposes.

How is the stamp duty calculated for properties in Rathna Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 10,01,000.

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

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