Guideline Value for NEW RATHINAMUDALI STREET

New Rathinamudali Street guideline value

The current guideline value of New Rathinamudali Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of New Rathinamudali Street has changed

The guideline value for New Rathinamudali Street has seen significant changes over the years. In 2002, the guideline value was Rs 420 per sq.ft, which increased to Rs 461 per sq.ft in 2003. Following this, the value rose to Rs 700 per sq.ft in 2007, marking a substantial increase of 52%. The value further increased to Rs 3,000 per sq.ft in 2012, reflecting a remarkable growth of 329%. However, from 2017 to 2023, the value surged to Rs 3,000 per sq.ft, then to Rs 3,200 per sq.ft in 2024, indicating a 7% increase.

From 2017 to 2023, the guideline value rose by 49%. The 2024 revision marks the most recent adjustment, bringing the value to Rs 3,200 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 662%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. New Rathinamudali Street's current guideline value is above this median.

• New Nagar: Rs 3,800 per sq.ft (2024)
• New Magazine Road: Rs 2,200 per sq.ft (2024)
• New Street: Rs 3,800 per sq.ft (2024)
• New Kamaraj Nagar Nehruji 4th Street: Rs 2,700 per sq.ft (2024)
• New Kamaraj Nagar Nehruji 3rd Street: Rs 2,700 per sq.ft (2024)
• New Kamaraj Nagar Nehruji 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in New Rathinamudali Street

For a 1,000 sq.ft plot at the current rate of Rs 3,200 per sq.ft, the guideline value would be Rs 32,00,000. The stamp duty at 7% would amount to Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, totaling Rs 2,88,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Rathinamudali Street?

The Sub Registrar Office that covers New Rathinamudali Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential to note that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of New Rathinamudali Street?

The current guideline value of New Rathinamudali Street is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 420 per sq.ft in 2002 to Rs 3,200 per sq.ft in 2024, marking an overall increase of 662%.

What is the land classification for New Rathinamudali Street?

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

Where can I find the Sub Registrar Office for New Rathinamudali Street?

The Purasaivakkam Sub Registrar Office, which covers New Rathinamudali Street, is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in New Rathinamudali Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000 at a rate of 7%.