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 2 village under the Chennai Central Joint I SRO, classified as 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 is 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, there are no available figures for Rosonic Street in the register. The 2024 figure of Rs 8,700 per sq.ft indicates a notable change from the previous year, reflecting the current valuation trends in the area.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 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 value for these streets is Rs 8,800 per sq.ft, placing Rosonic Street's 2024 figure below the 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 rate of Rs 8,700 per sq.ft, the 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, totaling Rs 7,83,000. It is important to 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 information.

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 2

The guideline value is an essential factor in the registration process of property transactions in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

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?

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

What is the land classification for Rosonic Street?

Rosonic Street is classified as Residential Class I Type - III under the Chennai Central Joint I SRO.

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

The Sub Registrar Office for Rosonic Street is 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. For example, for a property valued at Rs 87,00,000, the stamp duty at 7% would be Rs 6,09,000.