Guideline Value for Rathnam2st Street

Rathnam2st Street guideline value

The current guideline value of Rathnam2st Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Rathnam2st Street has changed

In the 2023 revision, the guideline value was Rs 8,000 per sq.ft. The change from 2023 to 2024 reflects an increase of 9%, bringing the current value to Rs 8,700 per sq.ft. The register has no figure for Rathnam2st Street for the years 2017, 2012, 2007, 2003, and 2002.

Thus, the only available figures for this street are from the 2023 and 2024 revisions, indicating a clear upward adjustment in the guideline value over this period.

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 Rathnam2st Street's 2024 value below this median.

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

Stamp duty and registration fee for property in Rathnam2st 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, and the registration fee at 2% would be Rs 1,74,000, making the total charges Rs 7,83,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rathnam2st Street?

The Sub Registrar Office covering Rathnam2st 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 details.

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 serves as a baseline for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a value that reflects the official rates set by the registration department, thereby helping to standardize property transactions in the region.

Frequently asked questions

What is the current guideline value of Rathnam2st Street?

The current guideline value of Rathnam2st Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a 9% rise.

What are the guideline values for other streets in Mylapore Part 2?

Other streets in Mylapore Part 2 have guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft, with the median being Rs 8,800 per sq.ft.

What fees are associated with buying property in Rathnam2st Street?

When buying property, you will incur stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

Where can I find my Sub Registrar Office?

The Sub Registrar Office for Rathnam2st Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more details online.