Guideline Value for Rathinam Nagar

Rathinam Nagar guideline value

The current guideline value for Rathinam Nagar, located in Porur village under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Rathinam Nagar has changed

The guideline value for Rathinam Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 304 per sq.ft. This increased to Rs 337 per sq.ft in 2003, marking an 11% rise. The value continued to rise significantly, reaching Rs 750 per sq.ft in 2007, which was a 123% increase from the previous revision. By 2012, the value was Rs 3,200 per sq.ft, reflecting a substantial increase of 327% from 2007. However, in 2017, it dropped to Rs 2,144 per sq.ft, a decrease of 33% from the 2012 figure. The guideline value then increased to Rs 3,200 per sq.ft in 2023, followed by a final rise to Rs 3,520 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,058%. The register has no figures for the years not listed above for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. Rathinam Nagar's 2024 guideline value is below this median.

• Ranganathan Street: Rs 3,520 per sq.ft (2024)
• Ranganathan Nagar Rajaji Street: Rs 3,520 per sq.ft (2024)
• Ranganathan Nagar Kanniappan Street Ist Lane: Rs 3,960 per sq.ft (2024)
• Ranganathan Nagar Kanniappan Street - 2nd Lane: Rs 3,960 per sq.ft (2024)
• Ranganathan Nagar Kanniappan Street: Rs 3,960 per sq.ft (2024)
• Ranganathan Nagar Extension: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Rathinam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost for these fees to Rs 3,16,800. It is important to note that 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 details.

Which Sub Registrar Office covers Rathinam Nagar?

The Rathinam Nagar area falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the authorities will assess the guideline value to calculate the necessary fees. This ensures that both parties are paying the correct amount based on the established guideline values in their respective areas.

Frequently asked questions

What is the current guideline value for Rathinam Nagar?

The current guideline value for Rathinam Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 304 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, which is an overall increase of 1,058%.

What is the land classification for Rathinam Nagar?

The land classification for Rathinam Nagar is Residential Special Type - II.

What are the stamp duty and registration fees for a property in Rathinam Nagar?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which Sub Registrar Office covers Rathinam Nagar?

The Kunrathur Sub Registrar Office covers Rathinam Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.