Guideline Value for PERIYA RATHINAM STREET

Periya Rathinam Street guideline value

The current guideline value of Periya Rathinam Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Natham village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - III.

How the guideline value of Periya Rathinam Street has changed

The guideline value for Periya Rathinam Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,000 per sq.ft. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current figure for Periya Rathinam Street.

• Periyanatham Police Line: Rs 2,200 per sq.ft (2024)
• Periyar Street (Periyar Chetty Street): Rs 3,850 per sq.ft (2024)
• Paziya Police Line: Rs 1,650 per sq.ft (2024)
• Pasith Street (A) Matha Kovil Street: Rs 1,650 per sq.ft (2024)
• Parthasarathy Street: Rs 1,100 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Rathinam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 Periya Rathinam Street?

The Sub Registrar Office that covers Periya Rathinam Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Chengalpattu Natham. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

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

Frequently asked questions

What is the current guideline value of Periya Rathinam Street?

The current guideline value of Periya Rathinam Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Periya Rathinam Street?

Periya Rathinam Street is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for Periya Rathinam Street?

The Sub Registrar Office for Periya Rathinam Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.