Guideline Value for RATHINA NAGAR

Rathina Nagar guideline value

The current guideline value for Rathina Nagar is Rs 1,660 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Rathina Nagar has changed

The guideline value for Rathina Nagar has seen significant changes over the years. In 2002, the value was Rs 130 per sq.ft, which increased to Rs 150 per sq.ft in 2003, marking a 15% rise. The value continued to rise dramatically, reaching Rs 500 per sq.ft in 2007, a 233% increase from the previous revision. Following that, the value jumped to Rs 1,500 per sq.ft in 2012, a substantial 200% increase. However, it then fell to Rs 1,005 per sq.ft in 2017, reflecting a decrease of 33%.

In the subsequent revisions, the guideline value rose again to Rs 1,500 per sq.ft in 2023, followed by the current value of Rs 1,660 per sq.ft in 2024, which represents an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 1177%.

Guideline values in Vanagaram

In Vanagaram village, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, which is equal to the guideline value of Rathina Nagar.

• Ratna Nagar: Rs 1,660 per sq.ft (2024)
• Ratna Nagar 1st Street: Rs 1,660 per sq.ft (2024)
• Ratna Nagar 2nd Street: Rs 1,660 per sq.ft (2024)
• Ratna Nagar 3rd Street: Rs 1,660 per sq.ft (2024)
• Ratna Nagar Main Salai: Rs 1,660 per sq.ft (2024)
• Rangasamy Nayackar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rathina Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value amounts to Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, bringing the total to Rs 1,49,400. 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 details.

Which Sub Registrar Office covers Rathina Nagar?

The Sub Registrar Office that covers Rathina Nagar 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 more information.

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

The guideline value is a crucial factor when registering property transactions in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic asking prices.

Frequently asked questions

What is the current guideline value of Rathina Nagar?

The current guideline value of Rathina Nagar is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 130 per sq.ft in 2002 to Rs 1,660 per sq.ft in 2024, which is an overall increase of 1177%.

What is the stamp duty rate for property in Rathina Nagar?

The stamp duty rate for property transactions in Rathina Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rathina Nagar?

The Sub Registrar Office for Rathina Nagar 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.

How is the guideline value determined for properties in Vanagaram?

The guideline value for properties in Vanagaram is determined based on various factors, including location and land classification, and is revised periodically by the Registration Department.