Guideline Value for Rathinakumar Avenue

Rathinakumar Avenue guideline value

The current guideline value of Rathinakumar Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Rathinakumar Avenue has changed

The guideline value for Rathinakumar Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,200 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Rathinakumar Avenue's 2024 guideline value below this median.

• Roja Thottam 1st Street: Rs 1,650 per sq.ft (2024)
• Roja Thottam 2nd Street: Rs 1,650 per sq.ft (2024)
• Ramanujam Street: Rs 880 per sq.ft (2024)
• Ramani Nagar Extn PART-II: Rs 2,530 per sq.ft (2024)
• Ramani Nagar Extn: Rs 2,530 per sq.ft (2024)
• Ramani Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rathinakumar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost for these fees Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rathinakumar Avenue?

The Sub Registrar Office that covers Rathinakumar Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Irumpuliyur

The guideline value is a crucial factor when registering a property in Irumpuliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When a buyer or seller engages in a property transaction, the guideline value helps in calculating the applicable taxes. This value is compared with the sale price, and the higher of the two is used to compute the necessary fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rathinakumar Avenue?

The current guideline value of Rathinakumar Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Rathinakumar Avenue?

Rathinakumar Avenue is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Rathinakumar Avenue?

The Sub Registrar Office for Rathinakumar Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Rathinakumar Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 92,400 at 7% of the guideline value.