Guideline Value for RICE MILL SALAI

Rice Mill Salai guideline value

The current guideline value of Rice Mill Salai is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Rice Mill Salai has changed

The guideline value for Rice Mill Salai has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision, and then further rose to Rs 2,750 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Rice Mill Salai's 2024 figure above this median.

• R.G. Nagar Main Road: Rs 2,750 per sq.ft (2024)
• R.G. Nagar Anna Salai: Rs 2,200 per sq.ft (2024)
• R.G. Nagar 3rd Street Main Road: Rs 2,200 per sq.ft (2024)
• R.G. Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• R.G. Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• R.G. Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rice Mill Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, calculated at 7%, would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rice Mill Salai?

The Rice Mill Salai area is covered by 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, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Jelandianpettai, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's assessed value, providing a standardized approach to property transactions.

Frequently asked questions

What is the current guideline value of Rice Mill Salai?

The current guideline value of Rice Mill Salai is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Rice Mill Salai?

Rice Mill Salai is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Rice Mill Salai?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations for Rice Mill Salai?

The Chennai South Joint I Sub Registrar Office handles property registrations for Rice Mill Salai, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.