Guideline Value for RUDRAPPA STREET

Rudrappa Street guideline value

The current guideline value of Rudrappa Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Rudrappa Street has changed

Over the years, the guideline value of Rudrappa Street has undergone several revisions. The earliest recorded figure in the register is from 2007, where the value was Rs 1,100 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 355%. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 5,000 per sq.ft in 2023, and now stands at Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Rudrappa Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 400%.

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 value for these streets is Rs 5,500 per sq.ft, which is equal to the current guideline value of Rudrappa Street.

• Rundals Road: Rs 14,300 per sq.ft (2024)
• Rundals Street: Rs 14,300 per sq.ft (2024)
• Rotler Street: Rs 6,500 per sq.ft (2024)
• Sachithanantham 1st Lane: Rs 4,400 per sq.ft (2024)
• Sachithanantham Street: Rs 4,400 per sq.ft (2024)
• Sadasivam Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rudrappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. 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 Rudrappa Street?

The Sub Registrar Office that covers Rudrappa Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai-600 012. You can find your SRO for additional information.

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

The guideline value plays a crucial role during property transactions in Purasaivakkam. It is used to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records. Buyers and sellers must be aware of this value as it affects the overall cost of the transaction.

When registering a property, the guideline value is considered along with the sale price. The higher of the two figures is used to calculate applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rudrappa Street?

The current guideline value of Rudrappa Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 1,100 per sq.ft in 2007, rising to Rs 5,500 per sq.ft in 2024. Notably, there was a significant increase of 355% from 2007 to 2012, followed by a decrease in 2017.

What is the land classification for Rudrappa Street?

Rudrappa Street is classified as Residential Class III Type - I, which indicates its suitability for residential development.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees by using the stamp duty and registration fee calculator.

Which office manages the registration of properties in Purasaivakkam?

The Purasaivakkam Sub Registrar Office manages the registration of properties in Purasaivakkam, located at 93/1, Bricklin Road, Otteri, Chennai-600 012.