Guideline Value for Rathna Sabapathy Chetty Street

Rathna Sabapathy Chetty Street guideline value

The current guideline value of Rathna Sabapathy Chetty Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Rathna Sabapathy Chetty Street has changed

The guideline value for Rathna Sabapathy Chetty Street has undergone 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 7,000 per sq.ft, which increased by 10% to Rs 7,700 per sq.ft in the 2024 revision.

This change reflects a significant adjustment in the valuation of the property. The current value of Rs 7,700 per sq.ft is the latest figure available and is indicative of the most recent assessment made by the authorities.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with 2024 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Rathna Sabapathy Chetty Street's 2024 guideline value is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers Rathna Sabapathy Chetty Street?

The Sub Registrar Office that covers Rathna Sabapathy Chetty 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 1

The guideline value plays a crucial role when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is aligned with government assessments.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential components of the property transaction process. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Rathna Sabapathy Chetty Street?

The current guideline value of Rathna Sabapathy Chetty Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rathna Sabapathy Chetty Street was Rs 7,000 per sq.ft in 2023, which increased to Rs 7,700 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 Sabapathy Chetty Street?

Rathna Sabapathy Chetty Street is classified under Residential Class II Type - I. This classification is important for understanding the type of development and usage permitted in the area.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

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