Guideline Value for RATHINAM NAGAR 2ND STREET

Rathinam Nagar 2nd Street guideline value

The current guideline value of Rathinam Nagar 2nd 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 2nd Street has changed

The guideline value for Rathinam Nagar 2nd Street has seen several revisions over the years. In 2002, the value was Rs 648 per sq.ft, which increased to Rs 717 per sq.ft in 2003, marking a change of +11%. The value then rose significantly to Rs 1,300 per sq.ft in 2007, reflecting an increase of +81%. Following this, the value surged to Rs 9,000 per sq.ft in 2012, which was a substantial increase of +592%. However, it decreased to Rs 6,030 per sq.ft in 2017, showing a decline of -33%. The value then increased to Rs 9,000 per sq.ft in 2023, and most recently, it has risen to Rs 9,900 per sq.ft in 2024, reflecting a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +1428%. There are no figures available for the years not listed in the register for this street.

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 is Rs 9,900 per sq.ft, which is equal to the current guideline value of Rathinam Nagar 2nd Street.

• Rathinam Nagar 1st Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 4th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 15th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 7th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 14th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 8th West Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rathinam Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be 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 to Rs 8,91,000. 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 information.

Which Sub Registrar Office covers Rathinam Nagar 2nd Street?

The Sub Registrar Office that covers Rathinam Nagar 2nd 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.

For more details, you can find your SRO.

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

The guideline value is a crucial factor in the property registration process in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the guideline value helps ensure that the registration fee and stamp duty are calculated based on a standardized value, which helps maintain transparency in property transactions.

During the registration process, buyers and sellers must provide the guideline value to the Sub Registrar Office. This value is used to assess the applicable fees and duties, ensuring that both parties are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Rathinam Nagar 2nd Street?

The current guideline value of Rathinam Nagar 2nd 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, showing an overall increase of +1428% over this period.

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

Other streets in Thiruvanmiyur with the same guideline value of Rs 9,900 per sq.ft include Rathinam Nagar 1st Street, Rathinam Nagar 4th West Street, Rathinam Nagar 15th West Street, Rathinam Nagar 7th West Street, Rathinam Nagar 14th West Street, and Rathinam Nagar 8th West Street.

What is the registration fee for properties in Rathinam Nagar 2nd Street?

The registration fee for properties is calculated based on the guideline value. For a property valued at Rs 99,00,000, the registration fee would be Rs 1,98,000 at the rate of 2%.

Where is the Sub Registrar Office located for Rathinam Nagar 2nd Street?

The Sub Registrar Office for Rathinam Nagar 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.