Guideline Value for RATHINAMANI NAGAR

Rathinamani Nagar guideline value

The current guideline value of Rathinamani Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Rathinamani Nagar has changed

The guideline value for Rathinamani Nagar has seen significant changes over the years. The earliest recorded revision in 2002 set the value at Rs 120 per sq.ft. This increased to Rs 136 per sq.ft in 2003, marking a rise of 13%. The value continued to rise dramatically, reaching Rs 600 per sq.ft in 2007, which was a substantial increase of 341%. However, in 2012, the value adjusted to Rs 2,500 per sq.ft, reflecting a decrease of 33% from the previous revision.

From 2012, the guideline value rose again to Rs 1,675 per sq.ft in 2017, which represented a 49% increase. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, before it increased to Rs 2,800 per sq.ft in 2024, showing a change of 12% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 2,233%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value range from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Rathinamani Nagar's 2024 figure below this median. Below are other streets in Perungudi:

• Rathinamani Nagar Main Road: Rs 3,300 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total cost for these fees Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Rathinamani Nagar?

The Sub Registrar Office that covers Rathinamani Nagar 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be familiar with the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Rathinamani Nagar?

The current guideline value of Rathinamani Nagar is Rs 2,800 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 120 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 2,233%.

What is the stamp duty rate in Rathinamani Nagar?

The stamp duty rate for property transactions in Rathinamani Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Rathinamani Nagar located?

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

What are the guideline values of other streets in Perungudi?

Other streets in Perungudi have varying guideline values, with rates ranging from Rs 1,100 to Rs 8,800 per sq.ft. For example, Rathinamani Nagar Main Road is valued at Rs 3,300 per sq.ft in 2024.