Guideline Value for RATHINAM NAGAR 1ST STREET

Rathinam Nagar 1st Street guideline value

The current guideline value of Rathinam Nagar 1st 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 1st Street has changed

The guideline value for Rathinam Nagar 1st Street has seen several revisions over the years. The earliest recorded value in 2002 was Rs 648 per sq.ft. This increased to Rs 717 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 1,300 per sq.ft in 2007, which represented an 81% increase from the previous year. By 2012, the guideline value was Rs 9,000 per sq.ft, reflecting a significant increase of 592% from 2007. However, this value dropped to Rs 6,030 per sq.ft in 2017, showing a decrease of 33%.

In 2023, the guideline value was Rs 9,000 per sq.ft, and it increased to Rs 9,900 per sq.ft in 2024, which is a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1428%. The register has no figures for the years that do not appear in the list provided.

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 value for these streets is Rs 9,900 per sq.ft, which is equal to the guideline value of Rathinam Nagar 1st Street.

• Rathinam Nagar 15th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 2nd Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 14th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 4th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 13th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 7th West Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rathinam Nagar 1st 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 charges to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rathinam Nagar 1st Street?

The Sub Registrar Office that covers Rathinam Nagar 1st 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 in the registration process when buying or selling property in Thiruvanmiyur. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Rathinam Nagar 1st Street?

The current guideline value of Rathinam Nagar 1st 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 changed from Rs 648 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 1428%.

What is the land classification for Rathinam Nagar 1st Street?

The land classification for Rathinam Nagar 1st Street is Residential Class I Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Rathinam Nagar 1st Street located?

The Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.