Guideline Value for Rasi Garden

Rasi Garden guideline value

The current guideline value of Rasi Garden, located in Sothupakkam village under the Redhills SRO, is Rs 440 per sq.ft. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rasi Garden has changed

The guideline value of Rasi Garden has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, it saw a decrease to Rs 268 per sq.ft in 2017. Following this, the value rose significantly to Rs 400 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 440 per sq.ft. The changes from 2017 to 2023 marked a 49% increase, while the jump from 2023 to 2024 is 10%.

Notably, the revisions for the years 2002 and 2003 do not have any figures recorded for Rasi Garden. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Sothupakkam

In Sothupakkam, there are 49 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,150 per sq.ft, with a median value of Rs 440 per sq.ft. Rasi Garden's 2024 guideline value aligns with this median.

• Redhills Sri Senthil Velavan Nagar: Rs 440 per sq.ft (2024)
• Sengundram Sri Senthil Velavan Nagar Extn.: Rs 440 per sq.ft (2024)
• Sengundram Sri Senthil Velavan Nagar Part - I: Rs 440 per sq.ft (2024)
• Sengundram Sri Senthil Velavan Nagar Part-II: Rs 715 per sq.ft (2024)
• Senthil Velan Nagar: Rs 440 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Rasi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rasi Garden?

The Sub Registrar Office that covers Rasi Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Sothupakkam, determining the minimum price at which a property can be registered. When buying or selling a property, the guideline value is essential for calculating the applicable stamp duty and registration fees.

It is crucial for buyers and sellers to be aware of the guideline value, as it influences the overall cost of the transaction. The registration process requires adherence to these values, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rasi Garden?

The current guideline value of Rasi Garden is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, marking a total increase of 120% over the years.

What is the land classification for Rasi Garden?

Rasi Garden is classified as Residential Class II Type - I.

Where is the Sub Registrar Office for Rasi Garden located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Rasi Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 440 per sq.ft incurs a stamp duty of Rs 30,800.