Guideline Value for Rashiktha Street

Rashiktha Street guideline value

The current guideline value of Rashiktha Street, located in Thiruneermalai village under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class II Type - I.

How the guideline value of Rashiktha Street has changed

The guideline value of Rashiktha Street has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The latest 2024 revision has set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, placing Rashiktha Street's 2024 figure below this median.

• Rangaswamy 2nd Street: Rs 2,200 per sq.ft (2024)
• Rangaswamy 1st Street: Rs 2,200 per sq.ft (2024)
• Ranga Nagar Main Road: Rs 2,420 per sq.ft (2024)
• Ranga Nagar Exten.,: Rs 2,420 per sq.ft (2024)
• Ranga Nagar 6th Street: Rs 2,420 per sq.ft (2024)
• Ranga Nagar 6th Main Road: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Rashiktha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, leading to a total of Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rashiktha Street?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruneermalai. It serves as a basis for calculating stamp duty and registration fees, ensuring that the transaction adheres to the legal requirements set by the Registration Department.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to determine the applicable duties and fees. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rashiktha Street?

The current guideline value of Rashiktha Street 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 then to Rs 1,980 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What are the guideline values of other streets in Thiruneermalai?

Other streets in Thiruneermalai have varying guideline values, with figures ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft.

What is the stamp duty rate for properties in Rashiktha Street?

The stamp duty rate for properties in Rashiktha Street is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Rashiktha Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.