Guideline Value for Rathnam Street

Rathnam Street guideline value

The current guideline value of Rathnam Street is Rs 8,700 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 area is Residential Class I Type - III.

How the guideline value of Rathnam Street has changed

As per the guideline value register, there are no figures available for Rathnam Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision recorded a guideline value of Rs 8,000 per sq.ft, which was then revised to Rs 8,700 per sq.ft in 2024, reflecting an increase of 9%.

The current guideline value for Rathnam Street is now Rs 8,700 per sq.ft, which marks the latest revision. This increase indicates a shift in the valuation of properties in this area, as seen in the recent updates from the registration department.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 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 in this area is Rs 8,800 per sq.ft, placing Rathnam Street's 2024 figure below this median.

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

Stamp duty and registration fee for property in Rathnam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, while the registration fee at 2% would be Rs 1,74,000, bringing the total cost for these fees to Rs 7,83,000. It is important to note that 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 more detailed calculations.

Which Sub Registrar Office covers Rathnam Street?

The Sub Registrar Office that covers Rathnam 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 is a crucial factor in property transactions in Mylapore Part 1, as it determines the minimum value at which properties can be registered. Buyers and sellers must be aware of this value to understand the financial implications of their transactions.

When registering a property, the guideline value is used to calculate applicable stamp duties and registration fees, ensuring that both parties are aware of the costs involved in the sale or purchase of the property.

Frequently asked questions

What is the current guideline value of Rathnam Street?

The current guideline value of Rathnam Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 8,000 per sq.ft to Rs 8,700 per sq.ft, which is a change of 9%.

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, which is higher than the current value of Rathnam Street.

Where can I find the Sub Registrar Office for Rathnam Street?

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

How are stamp duties calculated for properties in Rathnam Street?

Stamp duties for properties in Rathnam Street are calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 87,00,000 would incur a stamp duty of Rs 6,09,000 at 7%.