Guideline Value for RATHINAM NAGAR 14TH WEST STREET

Rathinam Nagar 14th West Street guideline value

The current guideline value of Rathinam Nagar 14th West Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Rathinam Nagar 14th West Street has changed

The guideline value for Rathinam Nagar 14th West Street has seen several revisions over the years. In 2002, the value was Rs 843 per sq.ft, which increased to Rs 933 per sq.ft in 2003. A significant jump occurred in 2007, with the value rising to Rs 1,300 per sq.ft. This was followed by an increase to Rs 9,000 per sq.ft in 2012. However, the value decreased to Rs 6,030 per sq.ft in 2017. The 2023 revision set the value at Rs 9,000 per sq.ft, and the current 2024 revision has increased it to Rs 9,900 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1074%. The revisions for the years 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 592%. It is important to note that there are no figures available for revisions in the years not listed.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value is Rs 9,900 per sq.ft, which is the same as the 2024 figure for Rathinam Nagar 14th West Street.

• Rathinam Nagar 13th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 15th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 12th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 1st Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 11th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 2nd Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rathinam Nagar 14th West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total fees together to Rs 8,91,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rathinam Nagar 14th West Street?

The Sub Registrar Office that covers Rathinam Nagar 14th West 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 more information.

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

The guideline value plays a crucial role when buying or selling property in Thiruvanmiyur. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation rather than individual sale prices. This helps maintain transparency in property transactions.

When registering a property, buyers and sellers must consider the guideline value to determine the applicable fees. The registration process requires that the property is valued at the higher of the guideline value or the sale price, which ensures that all transactions are fairly assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Rathinam Nagar 14th West Street?

The current guideline value of Rathinam Nagar 14th West Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 843 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, showing an overall increase of 1074% over this period.

What is the stamp duty for property in Rathinam Nagar 14th West Street?

The stamp duty for property in Rathinam Nagar 14th West Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 6,93,000.

Which Sub Registrar Office covers Rathinam Nagar 14th West Street?

The Chennai South Joint I Sub Registrar Office covers Rathinam Nagar 14th West Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

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

Other streets in Thiruvanmiyur that share the same guideline value of Rs 9,900 per sq.ft in 2024 include Rathinam Nagar 13th West Street, Rathinam Nagar 15th West Street, Rathinam Nagar 12th West Street, Rathinam Nagar 1st Street, Rathinam Nagar 11th West Street, and Rathinam Nagar 2nd Street.