Guideline Value for Rathna Nagar Main Road

Rathna Nagar Main Road guideline value

The current guideline value of Rathna Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Virugambakkam village under the Virugambakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Rathna Nagar Main Road has changed

The guideline value for Rathna Nagar Main Road has seen several revisions over the years. In 2002, the value was Rs 579 per sq.ft, which increased to Rs 641 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 788 per sq.ft in 2007, a 23% increase. Following that, the value surged to Rs 3,500 per sq.ft in 2012, showing a significant 344% jump. However, it decreased to Rs 2,345 per sq.ft in 2017, reflecting a 33% decline. The guideline value then increased to Rs 3,500 per sq.ft in 2023, a 49% rise, and currently stands at Rs 3,850 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for the revisions in years other than those specified. The overall change from 2002 to 2024 reflects an increase of 565%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Rathna Nagar Main Road's 2024 value below the median.

• Rathna Nagar: Rs 3,850 per sq.ft (2024)
• Reddy Street: Rs 7,700 per sq.ft (2024)
• R.K.Sanmugam Road: Rs 8,800 per sq.ft (2024)
• Rukmanai Ammal Street: Rs 3,300 per sq.ft (2024)
• Ramasamy Road: Rs 8,800 per sq.ft (2024)
• Saibaba Colony 1st Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rathna Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. 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 information.

Which Sub Registrar Office covers Rathna Nagar Main Road?

The Sub Registrar Office that covers Rathna Nagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Virugambakkam. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that all transactions are conducted fairly and transparently. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Rathna Nagar Main Road?

The current guideline value of Rathna Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 579 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 565%.

What is the median guideline value in Virugambakkam?

The median guideline value for streets in Virugambakkam is Rs 4,400 per sq.ft, which is higher than the current value of Rathna Nagar Main Road.

What are the stamp duty rates for properties in Rathna Nagar Main Road?

The stamp duty rate for properties in Rathna Nagar Main Road is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Rathna Nagar Main Road located?

The Sub Registrar Office for Rathna Nagar Main Road is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.