Guideline Value for Rasammal Street, Meenakshi Nagar

Rasammal Street, Meenakshi Nagar guideline value

The current guideline value of Rasammal Street, Meenakshi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Rasammal Street, Meenakshi Nagar has changed

Over the years, the guideline value of Rasammal Street has seen significant changes. The earliest recorded revision is from 2017, where the guideline value was Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Rasammal Street's 2024 figure below this median.

• Ranjan Street, Samundeswari Nagar: Rs 1,980 per sq.ft (2024)
• Rani Anna Street, Sivasankaran Nagar: Rs 1,980 per sq.ft (2024)
• Rathinam Street / Ambdekar Nagar: Rs 1,760 per sq.ft (2024)
• Rani Anna Street: Rs 1,980 per sq.ft (2024)
• Rangaswamy Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Rangaswamy Street / Thirunagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Rasammal Street, Meenakshi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. 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 detailed calculations.

Which Sub Registrar Office covers Rasammal Street, Meenakshi Nagar?

The Sub Registrar Office that covers Rasammal Street, Meenakshi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it may influence the final sale price. The registration office uses this value to calculate the applicable fees, which are based on either the guideline value or the actual sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Rasammal Street, Meenakshi Nagar?

The current guideline value of Rasammal Street, Meenakshi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and now to Rs 1,980 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification for Rasammal Street?

Rasammal Street falls under the Residential Class II Type - II land classification. This classification is important for understanding the type of development allowed in the area.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,78,200.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. This office handles all registrations for properties in the area.