Guideline Value for Reporia Street

Reporia Street guideline value

The current guideline value of Reporia 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 is classified as Residential Class II Type - I.

How the guideline value of Reporia Street has changed

According to the guideline value register, there are no figures for Reporia Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 7,000 per sq.ft, which increased by 10% to Rs 7,700 per sq.ft in the 2024 revision.

This marks a significant change from the previous year, reflecting an increase in the guideline value for this street. The 2024 figure is now established and effective as of 1 July 2024.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 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 the area is Rs 8,800 per sq.ft, placing Reporia Street's current value below this median.

• Rathna Sabapathy Chetty Street: Rs 7,700 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Reporia Street

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

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Reporia Street?

The Sub Registrar Office that covers Reporia 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 information.

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

The guideline value is a crucial factor during property registration in Mylapore Part 1. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When buying or selling property, the guideline value influences the stamp duty and registration fees. Buyers must be aware of the guideline value to understand the financial implications during the registration process.

Frequently asked questions

What is the current guideline value of Reporia Street?

The current guideline value of Reporia 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 Reporia Street was Rs 7,000 per sq.ft in 2023 and increased to Rs 7,700 per sq.ft in 2024, reflecting a 10% rise.

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 Reporia Street.

What are the stamp duty rates for property in Reporia Street?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Reporia Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.