Guideline Value for RATHINAMMAL I ST STREET

Rathinammal I St Street guideline value

The current guideline value of Rathinammal I St 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 I St Street has changed

Over the years, the guideline value of Rathinammal I St Street has seen significant changes. The earliest recorded revision was in 2007, with a guideline value of Rs 1,050 per sq.ft. This increased dramatically to Rs 5,000 per sq.ft in 2012, marking a rise of 376%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, which was a reduction of 33%. Following this, the value surged to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value is 424%. The value rose from Rs 1,050 per sq.ft in 2007 to the current Rs 5,500 per sq.ft, showcasing the fluctuations over the years. The changes from 2017 to 2023 also indicate a substantial increase of 49% during that period.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, which means that Rathinammal I St Street's current value is below that median.

• Rathinammal II Nd 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 I St Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rathinammal I St Street?

The Sub Registrar Office that covers Rathinammal I St Street is the Kodambakkam Sub Registrar Office, 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 plays a crucial role during the registration of property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value is set by the government and reflects the minimum value for which properties in a particular area can be registered.

When a buyer or seller enters into a transaction, the guideline value is compared to the sale price of the property. The higher of the two values is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline value.

Frequently asked questions

What is the current guideline value of Rathinammal I St Street?

The current guideline value of Rathinammal I St 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 significantly from Rs 1,050 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 424% over the years.

What is the land classification for Rathinammal I St Street?

Rathinammal I St Street is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for Rathinammal I St Street?

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

How is the stamp duty calculated for properties in Rathinammal I St Street?

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