Guideline Value for ROHINI FLATS

Rohini Flats guideline value

The current guideline value of Rohini Flats is Rs 13,100 per sq.ft, effective from 1 July 2024. This property is located in Padi village, under the Villivakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Rohini Flats has changed

The guideline value for Rohini Flats has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 1,250 per sq.ft. This increased to Rs 1,750 per sq.ft in 2003, marking a 40% rise. The value then saw a modest increase to Rs 1,800 per sq.ft in 2007, which was a 3% change. Following this, the 2012 revision recorded a value of Rs 12,000 per sq.ft, reflecting a substantial increase of 567% from the previous figure. However, in the 2017 revision, the value decreased to Rs 8,040 per sq.ft, a drop of 33%.

In the more recent revisions, the guideline value rose to Rs 12,000 per sq.ft in 2023, and then to Rs 13,100 per sq.ft in 2024, marking a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 948%.

Guideline values in Padi

Padi village has a range of guideline values across its 354 streets under the Villivakkam SRO. The 2024 guideline values for these streets range from Rs 2,200 to Rs 13,200 per sq.ft, with the median being Rs 3,800 per sq.ft. The guideline value for Rohini Flats is above this median.

• Sakthi Nagar: Rs 2,500 per sq.ft (2024)
• Ram Nagar: Rs 4,900 per sq.ft (2024)
• Santham Colony: Rs 8,700 per sq.ft (2024)
• Sathiyamurthy Street: Rs 2,500 per sq.ft (2024)
• Sathiya Nagar: Rs 2,500 per sq.ft (2024)
• Raja Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rohini Flats

For a 1,000 sq.ft plot at the current guideline value of Rs 13,100 per sq.ft, the total guideline value would be Rs 1,31,00,000. The stamp duty at 7% would amount to Rs 9,17,000, while the registration fee at 2% would be Rs 2,62,000. Therefore, the total charges would be Rs 11,79,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rohini Flats?

The Sub Registrar Office that covers Rohini Flats is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers should ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is used to calculate the applicable duties. It is essential for both buyers and sellers to understand that the duty is charged on the higher of the guideline value or the sale price, ensuring that the correct amount is paid during the transaction.

Frequently asked questions

What is the current guideline value of Rohini Flats?

The current guideline value of Rohini Flats is Rs 13,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,250 in 2002 to Rs 13,100 in 2024, marking an overall increase of 948%.

What are the stamp duty and registration fees for property in Rohini Flats?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would be Rs 11,79,000.

Which Sub Registrar Office covers the area of Rohini Flats?

The Villivakkam Sub Registrar Office covers Rohini Flats, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Rohini Flats?

Rohini Flats is classified as Residential Special Type - I, which is important for understanding the applicable regulations and guidelines for property transactions in the area.