Guideline Value for Guindy Rathinam Street

Guindy Rathinam Street guideline value

The current guideline value of Guindy Rathinam Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Guindy Rathinam Street has changed

The guideline value for Guindy Rathinam Street has undergone several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012. However, this figure saw a decrease to Rs 2,512 per sq.ft in 2017. The value then rose again to Rs 3,750 per sq.ft in 2023, and currently stands at Rs 4,100 per sq.ft from the 2024 revision, reflecting a 9% increase from the previous year.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, placing Guindy Rathinam Street's 2024 figure below this median.

• Gundalakesi Street: Rs 3,300 per sq.ft (2024)
• Gurusev Street (S.M.Block): Rs 4,100 per sq.ft (2024)
• Govindhachari Salai: Rs 3,300 per sq.ft (2024)
• Govindasamy Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Govindasamy Street (JPT): Rs 4,900 per sq.ft (2024)
• Govindan Street Block 62: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Guindy Rathinam Street

For a 1,000 sq.ft plot at the current rate of Rs 4,100 per sq.ft, the guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, totaling Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Guindy Rathinam Street?

The Sub Registrar Office that covers Guindy Rathinam Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kodambakkam

The guideline value plays a crucial role in the registration of property transactions in Kodambakkam. It is used to calculate the stamp duty and registration fees that are payable at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is vital for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Guindy Rathinam Street?

The current guideline value of Guindy Rathinam Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 413%.

What is the stamp duty for property in Guindy Rathinam Street?

The stamp duty for property in Guindy Rathinam Street is calculated at 7% of the guideline value. For example, for a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000.

Which Sub Registrar Office handles registrations for this street?

The Ashok Nagar Sub Registrar Office handles registrations for Guindy Rathinam Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Guindy Rathinam Street?

Guindy Rathinam Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.