Guideline Value for Rathnam Nagar

Rathnam Nagar guideline value

The current guideline value of Rathnam Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Perumbakkam village under the Selaiyur SRO and is classified as Residential Special Type - II.

How the guideline value of Rathnam Nagar has changed

The guideline value for Rathnam Nagar has seen several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. This marked a significant drop of 33%. However, from 2017 to 2023, the value increased sharply to Rs 3,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 saw the guideline value increase to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

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

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. Rathnam Nagar's 2024 guideline value of Rs 3,300 per sq.ft is above this median.

• Ram Nagar: Rs 3,300 per sq.ft (2024)
• R.M.Veerappan 1st to 4th Cross street: Rs 3,300 per sq.ft (2024)
• Ram Garden: Rs 3,300 per sq.ft (2024)
• Ramaniyam Ram Enclave: Rs 3,400 per sq.ft (2024)
• Rukmani Nagar: Rs 3,300 per sq.ft (2024)
• Rukmani Nagar 1st to 4th street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rathnam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rathnam Nagar?

The Sub Registrar Office that covers Rathnam Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Perumbakkam

The guideline value is a crucial factor during the registration of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling a property, the guideline value will influence the stamp duty and registration fees applicable. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rathnam Nagar?

The current guideline value of Rathnam Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Rathnam Nagar?

Rathnam Nagar is classified as Residential Special Type - II, indicating its intended use for residential purposes.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Rathnam Nagar located?

The Sub Registrar Office for Rathnam Nagar is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.