Guideline Value for R.S.Compound

R.S.Compound guideline value

The current guideline value for R.S.Compound is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is located in Urur village under the Adayar SRO and is classified as Residential Class II Type - I.

How the guideline value of R.S.Compound has changed

The guideline value for R.S.Compound has seen several revisions over the years. Starting from Rs 412 per sq.ft in 2002, it increased to Rs 488 per sq.ft in 2003, marking an increase of 18%. The value rose significantly to Rs 2,000 per sq.ft in 2007, which was a 310% increase. In 2012, the value was recorded at Rs 6,000 per sq.ft, reflecting a substantial increase of 200% from the previous revision. However, this value dropped to Rs 4,020 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the guideline value climbed to Rs 6,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the value at Rs 6,600 per sq.ft, which is a 10% increase from the 2023 figure. It is important to note that the register has no figures for the revisions in years not listed.

Guideline values in Urur

In Urur, there are 176 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft, with the median value being Rs 6,600 per sq.ft. The guideline value for R.S.Compound matches this median.

• Ramaswamy Thottam: Rs 5,500 per sq.ft (2024)
• Ramaswamy Avenue: Rs 6,100 per sq.ft (2024)
• Sashthri Nagar 10th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 11th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 12th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 13th Cross Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in R.S.Compound

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that 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 information.

Which Sub Registrar Office covers R.S.Compound?

The Sub Registrar Office that covers R.S.Compound is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Urur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is documented accurately.

When a buyer or seller approaches the registration office, the guideline value helps in assessing the financial implications of the transaction. It is essential for both parties to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value for R.S.Compound?

The current guideline value for R.S.Compound 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 from Rs 412 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 1502% over the years.

What is the land classification for R.S.Compound?

R.S.Compound is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for R.S.Compound?

The Adayar Sub Registrar Office covers R.S.Compound and is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for property in R.S.Compound?

The stamp duty for property in R.S.Compound is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.