Guideline Value for ROAD STREET

Road Street guideline value

The current guideline value of Road Street in Aswarevanthapuram village is Rs 300 per sq.ft. This value is effective from the 2024 revision and falls under the Ramakrishna Rajupettai SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Road Street has changed

In the 2017 revision, the guideline value for Road Street was Rs 117 per sq.ft. This figure remained unchanged in the subsequent revisions until the 2023 revision, where it was still Rs 300 per sq.ft. The 2024 revision also maintains this figure at Rs 300 per sq.ft, reflecting a significant increase of 156% from the 2017 revision to 2023.

From the 2023 to 2024 revision, there was no change in the guideline value, remaining at Rs 300 per sq.ft. Overall, from 2017 to 2024, the guideline value has increased by 156%.

Guideline values in Aswarevanthapuram

In Aswarevanthapuram, there are ten streets under the Ramakrishna Rajupettai SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 300 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which is equal to the guideline value of Road Street.

• Savadi St: Rs 300 per sq.ft (2024)
• School St: Rs 300 per sq.ft (2024)
• Old Post Office St: Rs 300 per sq.ft (2024)
• Mal Vannier St: Rs 300 per sq.ft (2024)
• Kuttai St: Rs 300 per sq.ft (2024)
• Chittor Main Rd: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Road Street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Road Street?

The Sub Registrar Office that covers Road Street is the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Aswarevanthapuram. It serves as the basis for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer must ensure that the sale price meets or exceeds the guideline value to avoid any discrepancies during registration. The registration office will assess the higher of the guideline value or the sale price to determine the applicable fees.

Frequently asked questions

What is the current guideline value of Road Street?

The current guideline value of Road Street is Rs 300 per sq.ft, effective from the 2024 revision.

How has the guideline value of Road Street changed over the years?

The guideline value of Road Street has increased from Rs 117 per sq.ft in 2017 to Rs 300 per sq.ft in both the 2023 and 2024 revisions, reflecting a total increase of 156% from 2017 to 2024.

What is the land classification for Road Street?

Road Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for a property in Road Street?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which office handles the registration for Road Street?

The registration for Road Street is handled by the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone.