Guideline Value for RUNDALS STREET

Rundals Street guideline value

The current guideline value of Rundals Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Commercial Special Type - II.

How the guideline value of Rundals Street has changed

Over the years, the guideline value of Rundals Street has seen significant changes. Starting from the 2007 revision, the value was Rs 2,800 per sq.ft. It increased dramatically to Rs 12,000 per sq.ft in 2012, marking a rise of 329%. However, from 2012 to 2017, the value dropped to Rs 8,710 per sq.ft, reflecting a decrease of 27%. The value then saw a substantial increase to Rs 13,000 per sq.ft in 2023, a rise of 49%. The latest revision in 2024 set the value at Rs 14,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for Rundals Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 411%.

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, placing Rundals Street's 2024 figure well above this median.

• Rundals Road: Rs 14,300 per sq.ft (2024)
• Rudrappa Street: Rs 5,500 per sq.ft (2024)
• Sachithanantham 1st Lane: Rs 4,400 per sq.ft (2024)
• Sachithanantham Street: Rs 4,400 per sq.ft (2024)
• Rotler Street: Rs 6,500 per sq.ft (2024)
• Sadasivam Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rundals Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total fees to Rs 12,87,000. 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 Rundals Street?

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

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

The guideline value is an essential factor in property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Rundals Street?

The current guideline value of Rundals Street is Rs 14,300 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 2,800 per sq.ft in 2007 to Rs 14,300 per sq.ft in 2024, reflecting an overall increase of 411%.

What is the land classification for Rundals Street?

The land classification for Rundals Street is Commercial Special Type - II, indicating its use for commercial activities.

Where can I find the Sub Registrar Office for Rundals Street?

The Sub Registrar Office for Rundals Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Rundals Street?

Stamp duty for properties in Rundals Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 10,01,000 at the current guideline value.