Guideline Value for Rathinapuri

Rathinapuri guideline value

The current guideline value of Rathinapuri, located in Koyakbedu village under the AnnaNagar SRO, is Rs 5,500 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Rathinapuri has changed

The guideline value for Rathinapuri has seen several revisions over the years. In 2007, the value was Rs 1,300 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it dropped to Rs 3,350 per sq.ft in 2017, marking a decrease of 33%. The value then rose sharply to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 323%. The changes between the revisions are as follows: from 2017 to 2023, there was a significant increase of 49%, and from 2012 to 2017, the value decreased by 33%. The increase from 2007 to 2012 was remarkable at 285%.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value of these streets is Rs 4,400 per sq.ft, placing Rathinapuri's current value above this median.

• Rishanth Maanav Garden: Rs 3,300 per sq.ft (2024)
• Roja Street Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• Sai Nagar: Rs 5,500 per sq.ft (2024)
• Sai Nagar Annexe, 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Sai Nagar Annexe, 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Sai Nagar Annexe, 4th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rathinapuri

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. 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 details.

Which Sub Registrar Office covers Rathinapuri?

The Sub Registrar Office that covers Rathinapuri is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property transactions in Koyakbedu. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is assessed, and the applicable fees are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rathinapuri?

The current guideline value of Rathinapuri is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 323% over the years.

What are the stamp duty and registration fees for properties in Rathinapuri?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.

Which office handles property registration for Rathinapuri?

The AnnaNagar Sub Registrar Office handles property registration for Rathinapuri, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that the correct fees are paid based on the current market standards.