Guideline Value for RATHINAMMAL II ND STREET

Rathinammal II Nd Street guideline value

The current guideline value of Rathinammal II Nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Rathinammal II Nd Street has changed

Over the years, the guideline value of Rathinammal II Nd Street has seen several revisions. The 2007 revision set the value at Rs 1,050 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 376%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the value at Rs 5,500 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 424%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Rathinammal II Nd Street's current value below this median.

• Rathinammal I St Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar- Valluvar Nedumpathai: Rs 6,000 per sq.ft (2024)
• Rani Anna Nagar -Thiru VI Ka Square: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Poombukar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Navavalar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Mettu Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rathinammal II Nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. 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 more detailed calculations.

Which Sub Registrar Office covers Rathinammal II Nd Street?

The Kodambakkam Sub Registrar Office covers Rathinammal II Nd Street. The office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Arumbakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees, ensuring compliance with local regulations.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rathinammal II Nd Street?

The current guideline value of Rathinammal II Nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,050 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 424%.

What is the land classification for Rathinammal II Nd Street?

Rathinammal II Nd Street is classified as Residential Special Type - III.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Rathinammal II Nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.