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 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Reporia Street has changed

The guideline value for Reporia Street has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 7,000 per sq.ft, which saw an increase of 10% to Rs 7,700 per sq.ft in the 2024 revision.

Comparing the revisions, the 2023 figure of Rs 7,000 per sq.ft was the most recent before the 2024 update. The increase from 2023 to 2024 reflects a significant adjustment in the guideline value for this street.

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 for these streets is Rs 8,800 per sq.ft, placing Reporia Street's 2024 figure 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 together to Rs 6,93,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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 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 benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official valuation of the property.

When engaging in property transactions, it is essential to consider the guideline value as it directly impacts the financial obligations associated with the registration process. Buyers and sellers should be aware of the current guideline values to make informed decisions during their transactions.

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 by 10% 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 median guideline value for streets in Mylapore Part 2?

The median guideline value for streets in Mylapore Part 2 is Rs 8,800 per sq.ft. Reporia Street's current value is below this median.

What are the stamp duty and registration fees for property in Reporia Street?

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. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Reporia Street?

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