Guideline Value for RATHINAM NAGAR

Rathinam Nagar guideline value

The current guideline value of Rathinam Nagar, located in Thiruvanmiyur village, is Rs 9,900 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Rathinam Nagar has changed

The guideline value for Rathinam Nagar has seen significant changes over the years. In 2002, the value was Rs 648 per sq.ft, which increased to Rs 717 per sq.ft in 2003, marking an increase of approximately 11%. The value continued to rise, reaching Rs 1,300 per sq.ft in 2007, a substantial increase of 81%. The upward trend continued as the value jumped to Rs 9,000 per sq.ft in 2012, reflecting a remarkable growth of 592% from the previous revision.

From 2012 to 2017, however, the guideline value declined to Rs 6,030 per sq.ft, a decrease of 33%. It then rose again to Rs 9,000 per sq.ft in 2023, before reaching the current value of Rs 9,900 per sq.ft in 2024, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,428%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with a 2024 guideline value range from Rs 3,520 to Rs 12,660 per sq.ft. The median value is Rs 9,900 per sq.ft, and Rathinam Nagar's current figure aligns with this median.

• Rathinam Nagar 10th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 11th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 12th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 13th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 14th West 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

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 amount to Rs 6,93,000, while 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rathinam Nagar?

The Sub Registrar Office that covers Rathinam 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. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during property registration in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring that the transaction is recorded accurately.

When purchasing or selling property, it is essential to refer to the guideline value to understand the financial implications. This value helps in determining the costs associated with the registration process, providing clarity to both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Rathinam Nagar?

The current guideline value of Rathinam Nagar 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 648 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, showing an overall increase of 1,428%.

What are the guideline values for other streets in Thiruvanmiyur?

Other streets in Thiruvanmiyur, such as Rathinam Nagar 10th West Street, 11th West Street, 12th West Street, 13th West Street, 14th West Street, and 15th West Street, all have a guideline value of Rs 9,900 per sq.ft for 2024.

What is the stamp duty rate for property transactions in Rathinam Nagar?

The stamp duty rate for property transactions in Rathinam Nagar is 7%, which is applied to the higher of the guideline value or the sale price.

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

The Sub Registrar Office covering Rathinam Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can also find your SRO online.