Guideline Value for RATHINAM NAGAR 7TH WEST STREET

Rathinam Nagar 7th West Street guideline value

The current guideline value of Rathinam Nagar 7th 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 7th West Street has changed

The guideline value for Rathinam Nagar 7th West Street has undergone several revisions over the years. In 2002, the guideline value was Rs 837 per sq.ft, which increased to Rs 926 per sq.ft in 2003, marking an increase of 11%. The value saw a significant rise to Rs 1,300 per sq.ft in 2007, representing a 40% increase. By 2012, the value reached Rs 9,000 per sq.ft, which was a substantial increase of 592% from the previous revision. However, it then dropped to Rs 6,030 per sq.ft in 2017, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value increased by 49%, bringing it to Rs 9,000 per sq.ft. The most recent revision in 2024 set the value at Rs 9,900 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1083%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with 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 the same as the guideline value for Rathinam Nagar 7th West Street.

• Rathinam Nagar 4th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 8th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 2nd Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 9th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 1st Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 15th West Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rathinam Nagar 7th 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. Together, the total cost would be 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 further calculations.

Which Sub Registrar Office covers Rathinam Nagar 7th West Street?

The Sub Registrar Office that covers Rathinam Nagar 7th 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 in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rathinam Nagar 7th West Street?

The current guideline value of Rathinam Nagar 7th 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 changed significantly from Rs 837 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, representing an overall increase of 1083% over the years.

What is the land classification for Rathinam Nagar 7th West Street?

The land classification for Rathinam Nagar 7th West Street is Residential Class I Type - I.

What are the registration fees for a property in Rathinam Nagar 7th West Street?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Which office handles the registration for Rathinam Nagar 7th West Street?

The Chennai South Joint I Sub Registrar Office handles the registration for Rathinam Nagar 7th West Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.