Guideline Value for P.A.N Rajarathinam Salai 7th Street(G.A.Salai)

P.A.N Rajarathinam Salai 7th Street(G.A.Salai) guideline value

The current guideline value of P.A.N Rajarathinam Salai 7th Street(G.A.Salai) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of P.A.N Rajarathinam Salai 7th Street(G.A.Salai) has changed

The guideline value for P.A.N Rajarathinam Salai 7th Street(G.A.Salai) has seen several revisions over the years. In the 2007 revision, the guideline value was set at Rs 1,250 per sq.ft. This figure increased significantly to Rs 6,000 per sq.ft in the 2012 revision, marking a 380% increase. However, in the 2017 revision, the value decreased to Rs 4,020 per sq.ft, a drop of 33%. The value then rose to Rs 6,000 per sq.ft in the 2023 revision, and finally reached Rs 6,600 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 428%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that P.A.N Rajarathinam Salai 7th Street(G.A.Salai) is above this median.

• P.A.N Rajarathinam Salai 6th Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 8th Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 5th Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N. Rajarathinam Salai(G.A.Salai) (Kalmandapam Telephone Exchange to Tondiapet Market): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 4th Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N. Rajarathinam Salai (G.A.Salai) (M C Road to Kalmandapam Telephone Exchange): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in P.A.N Rajarathinam Salai 7th Street(G.A.Salai)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, resulting in a total cost of Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers P.A.N Rajarathinam Salai 7th Street(G.A.Salai)?

The Sub Registrar Office that covers P.A.N Rajarathinam Salai 7th Street(G.A.Salai) is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

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

Frequently asked questions

What is the current guideline value of P.A.N Rajarathinam Salai 7th Street(G.A.Salai)?

The current guideline value of P.A.N Rajarathinam Salai 7th Street(G.A.Salai) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 1,250 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, which is an overall increase of 428%.

What is the land classification for P.A.N Rajarathinam Salai 7th Street(G.A.Salai)?

The land classification for P.A.N Rajarathinam Salai 7th Street(G.A.Salai) is Commercial Class I Type - II.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Tondaiarpet?

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 66,00,000, the stamp duty would be calculated at 7% of this amount.