Guideline Value for R.S. NAGAR THELAGAR STREET

R.S. Nagar Thelagar Street guideline value

The current guideline value of R.S. Nagar Thelagar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO with a land classification of Residential Class II Type - I.

How the guideline value of R.S. Nagar Thelagar Street has changed

The guideline value for R.S. Nagar Thelagar Street has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024. The revisions for the years 2002, 2003, and 2007 have no figures listed for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows an increase of 10% in the guideline value.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for R.S. Nagar Thelagar Street.

• R.S. Nagar Patel Street: Rs 2,200 per sq.ft (2024)
• R.S. Nagar Nethaji Street: Rs 2,200 per sq.ft (2024)
• Sadagoban Nagar Sannathi Street: Rs 2,200 per sq.ft (2024)
• Sadagoban Street: Rs 2,200 per sq.ft (2024)
• Sadagopan Nagar Narayanan Street: Rs 1,870 per sq.ft (2024)
• Rice Mill Salai: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in R.S. Nagar Thelagar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 information.

Which Sub Registrar Office covers R.S. Nagar Thelagar Street?

The Sub Registrar Office that covers R.S. Nagar Thelagar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer and seller must agree on a sale price, but the registration fees and stamp duty will be calculated based on the higher value between the guideline value and the agreed sale price. This ensures compliance with local regulations and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of R.S. Nagar Thelagar Street?

The current guideline value of R.S. Nagar Thelagar 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 role of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration. It is essential for calculating stamp duty and registration fees during property transactions.

Where can I find the Sub Registrar Office for R.S. Nagar Thelagar Street?

The Sub Registrar Office for R.S. Nagar Thelagar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the other streets in Jelandianpettai with the same guideline value?

Other streets in Jelandianpettai with the same guideline value of Rs 2,200 per sq.ft include R.S. Nagar Patel Street, R.S. Nagar Nethaji Street, Sadagoban Nagar Sannathi Street, and Sadagoban Street.