Guideline Value for Rathnapuram Yerikkarai Street

Rathnapuram Yerikkarai Street guideline value

The current guideline value of Rathnapuram Yerikkarai Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Rathnapuram Yerikkarai Street has changed

The guideline value for Rathnapuram Yerikkarai Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, marking a decline of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, and further increased to Rs 2,800 per sq.ft in the 2024 revision, reflecting a 12% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 300%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. Rathnapuram Yerikkarai Street's current guideline value is below this median.

• Rathinapuram Moovarasam Pettai: Rs 2,800 per sq.ft (2024)
• Rathinapuram Malaicharivu Street: Rs 2,800 per sq.ft (2024)
• Rathinapuram Main: Rs 2,800 per sq.ft (2024)
• Rangarajapuram Street: Rs 4,400 per sq.ft (2024)
• Ranga Colony (alies) Rangaiya Colony: Rs 4,400 per sq.ft (2024)
• Ram Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rathnapuram Yerikkarai Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rathnapuram Yerikkarai Street?

The Sub Registrar Office that covers Rathnapuram Yerikkarai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thalakanancherry. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to determine the minimum value on which the stamp duty is calculated. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Rathnapuram Yerikkarai Street?

The current guideline value of Rathnapuram Yerikkarai Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification for Rathnapuram Yerikkarai Street?

The land classification for Rathnapuram Yerikkarai Street is Residential Class II Type - II.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Rathnapuram Yerikkarai Street?

The Alandur Sub Registrar Office handles registrations for Rathnapuram Yerikkarai Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.