Guideline Value for RITHERDON LANE

Ritherdon Lane guideline value

The current guideline value of Ritherdon Lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - III.

How the guideline value of Ritherdon Lane has changed

The guideline value for Ritherdon Lane has undergone several revisions over the years. In 2007, the value was Rs 7,000 per sq.ft, which decreased to Rs 6,500 per sq.ft in 2012. The value then saw a significant drop of 33% to Rs 4,355 per sq.ft in 2017. Following this, the guideline value increased by 49% to Rs 6,500 per sq.ft in 2023, and most recently, it rose by 9% to the current value of Rs 7,100 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

From 2007 to 2024, the overall change in the guideline value is an increase of just 1%. The most notable changes occurred between 2017 and 2023, where the value increased by 49%, and from 2023 to 2024, which saw a 9% rise.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Ritherdon Lane's current value above this median.

• Ritherdon Avenue: Rs 8,800 per sq.ft (2024)
• Ritherdon Road: Rs 8,800 per sq.ft (2024)
• Rotler Street: Rs 6,500 per sq.ft (2024)
• Rathinasabapathy Street: Rs 5,500 per sq.ft (2024)
• Rudrappa Street: Rs 5,500 per sq.ft (2024)
• Rundals Road: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ritherdon Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000, bringing the total fees together to Rs 6,39,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ritherdon Lane?

The Sub Registrar Office that covers Ritherdon Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable taxes and fees. It is essential for both buyers and sellers to be aware of the current guideline value to make informed decisions during the property transaction process.

Frequently asked questions

What is the current guideline value of Ritherdon Lane?

The current guideline value of Ritherdon Lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,000 in 2007 to Rs 6,500 in 2012, then to Rs 4,355 in 2017, followed by Rs 6,500 in 2023, and finally to Rs 7,100 in 2024.

What is the median guideline value for streets in Purasaivakkam?

The median guideline value for streets in Purasaivakkam is Rs 5,500 per sq.ft, with Ritherdon Lane's current value being above this median.

What are the stamp duty and registration fees for properties in Ritherdon Lane?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles registrations for Ritherdon Lane?

The Purasaivakkam Sub Registrar Office handles registrations for Ritherdon Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.