Guideline Value for Rainbow

Rainbow guideline value

The current guideline value of Rainbow, located in Sriperumbudur A village under the Sriperumpudur SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Rainbow has changed

The guideline value for Rainbow has undergone several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft. This figure remained unchanged in the 2023 revision, but the 2024 revision increased it to Rs 1,000 per sq.ft, marking a 49% increase from the 2017 figure.

From the 2023 to 2024 revision, there was no change in the guideline value, remaining at Rs 1,000 per sq.ft. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median value for these streets is Rs 700 per sq.ft, indicating that Rainbow's 2024 figure is above this median.

• Raghavendra Street: Rs 700 per sq.ft (2024)
• Priyanka Nagar: Rs 700 per sq.ft (2024)
• Priya nagar: Rs 700 per sq.ft (2024)
• Ramakrishnapuram: Rs 700 per sq.ft (2024)
• Ramanjuar Nagar Part II: Rs 1,000 per sq.ft (2024)
• Ramanujar IIIrd Cross Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Rainbow

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, together totaling Rs 90,000. 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 Rainbow?

The Sub Registrar Office that covers Rainbow is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sriperumbudur A. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is registered at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to accurately estimate their costs during the registration process.

Frequently asked questions

What is the current guideline value for Rainbow?

The current guideline value for Rainbow is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rainbow was Rs 670 per sq.ft in 2017 and has increased to Rs 1,000 per sq.ft in 2024, marking a 49% increase overall. There was no change from 2023 to 2024.

What is the land classification for Rainbow?

Rainbow is classified as Residential Class II Type - I under the current guidelines.

Which office handles registrations for properties in Rainbow?

The Sriperumpudur Sub Registrar Office handles registrations for properties in Rainbow, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for property in Rainbow?

Stamp duty for property in Rainbow is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,000 per sq.ft would incur a stamp duty of Rs 70,000.