Guideline Value for RETAIMALAI SRINIVASAN NAGAR

Retaimalai Srinivasan Nagar guideline value

The current guideline value of Retaimalai Srinivasan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Retaimalai Srinivasan Nagar has changed

Over the years, the guideline value of Retaimalai Srinivasan Nagar has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. However, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value rose by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvottiyur

Thiruvottiyur village has a total of 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Retaimalai Srinivasan Nagar.

• R.M.V. Nagar: Rs 1,500 per sq.ft (2024)
• Rottikara Madam Street: Rs 3,300 per sq.ft (2024)
• Sachchiyyakuppam: Rs 2,150 per sq.ft (2024)
• Sadayanguppam Pattai: Rs 3,300 per sq.ft (2024)
• Sakthi Ganapathi Nagar: Rs 1,500 per sq.ft (2024)
• Ramasamy Mudaliyar Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Retaimalai Srinivasan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Retaimalai Srinivasan Nagar?

The Sub Registrar Office covering Retaimalai Srinivasan Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Retaimalai Srinivasan Nagar?

The current guideline value of Retaimalai Srinivasan Nagar 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 several times, with the most recent increase being from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. Overall, from 2012 to 2024, it has increased by 10%.

What is the land classification for Retaimalai Srinivasan Nagar?

Retaimalai Srinivasan Nagar is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for Retaimalai Srinivasan Nagar?

The Sub Registrar Office for Retaimalai Srinivasan Nagar is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Retaimalai Srinivasan Nagar?

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