Guideline Value for RATNA NAGAR MAIN SALAI

Ratna Nagar Main Salai guideline value

The current guideline value of Ratna Nagar Main Salai is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Ratna Nagar Main Salai has changed

The guideline value for Ratna Nagar Main Salai has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then further rose to Rs 1,660 per sq.ft in 2024, marking an increase of 11% from the previous year.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value is Rs 1,660 per sq.ft, which is equal to the guideline value of Ratna Nagar Main Salai for 2024.

• Ratna Nagar: Rs 1,660 per sq.ft (2024)
• Ratna Nagar 1st Street: Rs 1,660 per sq.ft (2024)
• Ratna Nagar 2nd Street: Rs 1,660 per sq.ft (2024)
• Ratna Nagar 3rd Street: Rs 1,660 per sq.ft (2024)
• Rathina Nagar: Rs 1,660 per sq.ft (2024)
• Rangasamy Nayackar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ratna Nagar Main Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value would be Rs 16,60,000. The stamp duty at 7% would amount to Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, bringing the total to Rs 1,49,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ratna Nagar Main Salai?

The Sub Registrar Office that covers Ratna Nagar Main Salai is the Chennai South Joint I 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 Vanagaram

The guideline value is a crucial factor in property transactions in Vanagaram, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

It is important for both buyers and sellers to be aware of the guideline value, as it ensures compliance with legal requirements and helps in understanding the financial implications of property transactions in the area.

Frequently asked questions

What is the current guideline value of Ratna Nagar Main Salai?

The current guideline value of Ratna Nagar Main Salai is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,660 per sq.ft in 2024. The value also decreased from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017 before increasing again.

Where can I find the Sub Registrar Office for Ratna Nagar Main Salai?

The Sub Registrar Office for Ratna Nagar Main Salai is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the stamp duty and registration fees for properties in Ratna Nagar Main Salai?

For a property valued at Rs 16,60,000, the stamp duty would be Rs 1,16,200 and the registration fee would be Rs 33,200, totaling Rs 1,49,400. These fees are based on the guideline value or the sale price, whichever is higher.

What is the land classification of Ratna Nagar Main Salai?

Ratna Nagar Main Salai is classified as Residential Class III Type - I, which indicates its designated use for residential purposes within the Chennai South Joint I SRO jurisdiction.