Guideline Value for RATHINAMANI NAGAR MAIN ROAD

Rathinamani Nagar Main Road guideline value

The current guideline value of Rathinamani Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Rathinamani Nagar Main Road has changed

The guideline value for Rathinamani Nagar Main Road has seen several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is worth noting that there are no recorded figures for Rathinamani Nagar Main Road in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Rathinamani Nagar Main Road.

• Rathinamani Nagar: Rs 2,800 per sq.ft (2024)
• Rampal Layout: Rs 7,700 per sq.ft (2024)
• Ramappa Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Ramappa Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Ramappa Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Sai Ayush Pooja Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Rathinamani Nagar Main Road

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

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rathinamani Nagar Main Road?

The Sub Registrar Office that covers Rathinamani Nagar Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Rathinamani Nagar Main Road?

The current guideline value of Rathinamani Nagar Main Road 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 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing significant fluctuations over the years.

What is the classification of land for Rathinamani Nagar Main Road?

The land classification for Rathinamani Nagar Main Road is Residential Class II Type - II, indicating its designated use for residential purposes.

Where can I find the registration office for Rathinamani Nagar Main Road?

The registration office for Rathinamani Nagar Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Rathinamani Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.