Guideline Value for Rosonic Street

Rosonic Street guideline value

The current guideline value of Rosonic 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 Rosonic Street has changed

The guideline value for Rosonic Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 8,700 per sq.ft, which reflects an increase of 9% from the 2023 revision of Rs 8,000 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the guideline value for Rosonic Street was not recorded in the register for the aforementioned years. Therefore, the only available figures are from 2023 and 2024, showing a clear upward trend in the guideline value.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value 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 Rosonic Street's 2024 figure below that median.

• Royapettah High Road: Rs 13,200 per sq.ft (2024)
• Reporia Street: Rs 7,700 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Rosonic 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, resulting in a total cost of Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rosonic Street?

The Sub Registrar Office that covers Rosonic 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 1

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the Registration Department.

When a property transaction occurs, the guideline value helps to establish a fair price for the property, which is essential for both buyers and sellers. This ensures transparency and compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Rosonic Street?

The current guideline value of Rosonic 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 of Rs 8,000 per sq.ft to the 2024 revision of Rs 8,700 per sq.ft, the guideline value has increased by 9%.

What is the land classification for Rosonic Street?

The land classification for Rosonic Street is Residential Class I Type - III.

Where can I find the registration office for Rosonic Street?

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

How is stamp duty calculated for properties in Rosonic Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000 at a rate of 7%.