Guideline Value for RATHINAM NAGAR

Rathinam Nagar guideline value

The current guideline value of Rathinam Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam SRO, classified as Residential Class III Type - III.

How the guideline value of Rathinam Nagar has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 56 per sq.ft, which increased to Rs 250 per sq.ft in 2007, marking a substantial rise of 346%. The 2012 revision maintained the value at Rs 1,500 per sq.ft, with no change until the 2023 revision, which also recorded Rs 1,500 per sq.ft. The most recent 2024 revision has increased the value to Rs 1,600 per sq.ft, reflecting a 7% increase from 2023.

Notably, the 2012 to 2023 period showed no change, while the jump from 2007 to 2012 was a remarkable 500%. Overall, from 2002 to 2024, the guideline value has increased by 2757%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Rathinam Nagar's 2024 figure below this median.

• Ranganathan Nagar: Rs 1,600 per sq.ft (2024)
• Red Hills Road (Kallikuppam): Rs 2,900 per sq.ft (2024)
• Reshma Garden: Rs 1,300 per sq.ft (2024)
• Ring Road: Rs 5,500 per sq.ft (2024)
• R.K.Dhatchan Nagar: Rs 1,600 per sq.ft (2024)
• R.K.Nagar (Kallikuppam): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rathinam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value totals Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that 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 details.

Which Sub Registrar Office covers Rathinam Nagar?

The Sub Registrar Office that covers Rathinam Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Korattur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to check the current guideline value to ensure compliance with local regulations. This helps in understanding the financial implications of the transaction, including the costs associated with registration and stamp duty.

Frequently asked questions

What is the current guideline value of Rathinam Nagar?

The current guideline value of Rathinam Nagar is Rs 1,600 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 56 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 2757%.

What is the registration office for Rathinam Nagar?

The Villivakkam Sub Registrar Office covers Rathinam Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Rathinam Nagar?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at 7%.

What are the guideline values of other streets in Korattur?

Other streets in Korattur have varying guideline values, ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft.