Guideline Value for Rathnasabhapathy Street

Rathnasabhapathy Street guideline value

The current guideline value of Rathnasabhapathy Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rathnasabhapathy Street has changed

Over the years, the guideline value of Rathnasabhapathy Street has seen significant changes. The 2007 revision set the value at Rs 900 per sq.ft, which increased to Rs 1,340 per sq.ft in 2017, marking a change of +49%. The most recent revision in 2024 raised the value to Rs 2,200 per sq.ft, reflecting a substantial increase of +64% from the 2017 revision. Overall, from 2007 to 2024, the guideline value has risen by +144%.

It is important to note that the register does not have figures for the years 2002, 2003, 2012, and 2023 for Rathnasabhapathy Street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value across these streets is Rs 1,600 per sq.ft, placing Rathnasabhapathy Street's 2024 figure above that median.

• Rathnasabhapathy Lane: Rs 2,200 per sq.ft (2024)
• Retta Kuzhi Street: Rs 1,600 per sq.ft (2024)
• Robinson colony 1st Lane: Rs 2,200 per sq.ft (2024)
• Robinson colony 2nd Lane: Rs 2,200 per sq.ft (2024)
• Rope Godown Street: Rs 2,200 per sq.ft (2024)
• Ramdass Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rathnasabhapathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rathnasabhapathy Street?

The Sub Registrar Office that covers Rathnasabhapathy Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Tondaiarpet, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for legal ownership transfer.

It is important for buyers and sellers to be aware of the guideline value, as it can affect the total costs involved in the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Rathnasabhapathy Street?

The current guideline value of Rathnasabhapathy Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has changed significantly, increasing from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which is an overall increase of +144%.

What are the other streets in Tondaiarpet with their guideline values?

Other streets in Tondaiarpet include Rathnasabhapathy Lane and Robinson colony 1st, 2nd Lane, all valued at Rs 2,200 per sq.ft in 2024, while Retta Kuzhi Street is valued at Rs 1,600 per sq.ft and Ramdass Nagar at Rs 1,300 per sq.ft.

Where can I find the Sub Registrar Office for Rathnasabhapathy Street?

The Sub Registrar Office for Rathnasabhapathy Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Tondaiarpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.