Guideline Value for Rathnakumar Avenue

Rathnakumar Avenue guideline value

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

How the guideline value of Rathnakumar Avenue has changed

The guideline value for Rathnakumar Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. Following that, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the current 2024 revision further raised it to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the current 2024 value, there has been a 10% increase. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Rathnakumar Avenue's current value below this median.

• Roja Street: Rs 1,320 per sq.ft (2024)
• Ramanujam Street: Rs 1,980 per sq.ft (2024)
• Ramalingam Street: Rs 1,650 per sq.ft (2024)
• Rajkamal Street: Rs 1,650 per sq.ft (2024)
• Rajkamal Cross Street: Rs 1,650 per sq.ft (2024)
• Rajkamal cement Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Rathnakumar Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rathnakumar Avenue?

The Sub Registrar Office that covers Rathnakumar 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 information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Peerklankaranai. It serves as a reference for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rathnakumar Avenue?

The current guideline value of Rathnakumar 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 back to Rs 1,200 in 2023, and currently to Rs 1,320 in 2024.

What is the median guideline value for streets in Peerklankaranai?

The median guideline value for streets in Peerklankaranai is Rs 1,650 per sq.ft, while Rathnakumar Avenue's current value is below this median.

What are the stamp duty and registration fees for a property in Rathnakumar Avenue?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for Rathnakumar Avenue?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Rathnakumar Avenue, located at No.26, Mes Road, East Tambaram, Chennai-600059.