Guideline Value for RATHINAM THOTTAM

Rathinam Thottam guideline value

The current guideline value of Rathinam Thottam is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class III Type - I.

How the guideline value of Rathinam Thottam has changed

The guideline value for Rathinam Thottam has undergone several revisions over the years. In 2002, the value was set at Rs 565 per sq.ft. This increased to Rs 708 per sq.ft in 2003, marking a change of +25%. The subsequent revision in 2007 raised the value significantly to Rs 1,100 per sq.ft, which represented a +55% increase. By 2012, the value had risen further to Rs 3,000 per sq.ft, reflecting a substantial +173% change. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a decline of -33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, a +10% increase.

Overall, from 2002 to 2024, the guideline value has increased by +484%. The register has no figures for revisions in years other than those stated.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Rathinam Thottam's 2024 figure below this median.

• Rathinam Thottam 1st Street: Rs 4,400 per sq.ft (2024)
• Rangabashyam Street: Rs 4,400 per sq.ft (2024)
• Ramapuram Ramasamy Street: Rs 4,950 per sq.ft (2024)
• Ramanujam Pillai Street: Rs 4,950 per sq.ft (2024)
• Salaivaiyalar 1st Street: Rs 4,400 per sq.ft (2024)
• Salavaiyalar Colony 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rathinam Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rathinam Thottam?

The Sub Registrar Office that covers Rathinam Thottam is the Chennai South Joint II 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Saidapet. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges are aligned with the official valuation of the property.

When a property is bought or sold, the guideline value helps in determining the minimum price at which the property can be registered. This ensures compliance with local regulations and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Rathinam Thottam?

The current guideline value of Rathinam Thottam is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 565 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +484% over the years.

What are the stamp duty and registration fees for properties in Rathinam Thottam?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Rathinam Thottam?

The Chennai South Joint II Sub Registrar Office covers Rathinam Thottam, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification of Rathinam Thottam?

Rathinam Thottam is classified as Residential Class III Type - I, which is important for understanding the zoning and usage regulations applicable to this area.