Guideline Value for Rathna Nagar

Rathna Nagar guideline value

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

The guideline value for Rathna Nagar has seen several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. However, in the 2023 revision, the guideline value was Rs 13,000 per sq.ft, which increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

To summarize the changes, the 2023 revision marked a shift from Rs 13,000 to Rs 14,300 in 2024. This increase reflects a 10% rise in the guideline value from the previous year.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a total of 333 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 this area is Rs 8,800 per sq.ft, placing Rathna Nagar's 2024 figure above this median.

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

Stamp duty and registration fee for property in Rathna Nagar

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 more information.

Which Sub Registrar Office covers Rathna Nagar?

The Sub Registrar Office that covers Rathna Nagar 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 details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that these fees are calculated based on a standardized value set by the authorities.

When buying or selling property, both the buyer and seller must adhere to the guideline value established for the specific area. This ensures transparency and consistency in property transactions, as the guideline value reflects the prevailing rates in the locality.

Frequently asked questions

What is the current guideline value of Rathna Nagar?

The current guideline value of Rathna Nagar 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 has increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, marking a 10% increase. There are no figures available 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. Rathna Nagar's 2024 figure is above this median, indicating a higher value for this street.

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

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. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Rathna Nagar located?

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