Guideline Value for Royapettah High Road

Royapettah High Road guideline value

The current guideline value of Royapettah High Road is Rs 13,200 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 Commercial Special Type - III.

How the guideline value of Royapettah High Road has changed

Historically, the guideline value for Royapettah High Road has seen several revisions. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 12,000 per sq.ft, and it increased by 10% to Rs 13,200 per sq.ft in 2024.

Prior to the 2023 revision, the last recorded figure was from 2024. The increase from 2023 to 2024 reflects a notable change in the guideline value for this street, aligning with the overall adjustments made across the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

In Mylapore Part 2, a total of 332 streets fall 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 Royapettah High Road's 2024 figure above this median.

• Rosonic Street: Rs 8,700 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 Royapettah High Road

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. 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 detailed calculations.

Which Sub Registrar Office covers Royapettah High Road?

The Sub Registrar Office that covers Royapettah High Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your specific SRO, you can visit find your SRO.

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 the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

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

Frequently asked questions

What is the current guideline value of Royapettah High Road?

The current guideline value of Royapettah High Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Royapettah High Road has increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Royapettah High Road?

The land classification for Royapettah High Road is Commercial Special Type - III, indicating its suitability for commercial activities.

How is stamp duty calculated for properties on Royapettah High Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 1,32,00,000 would incur a stamp duty of Rs 9,24,000 at 7%.

Where can I find the Sub Registrar Office for Royapettah High Road?

The Sub Registrar Office for Royapettah High Road is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more details by visiting the relevant link.