Guideline Value for Rayapettai Odai 1st Cross Street

Rayapettai Odai 1st Cross Street guideline value

The current guideline value of Rayapettai Odai 1st Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Rayapettai Odai 1st Cross Street has changed

The guideline value for Rayapettai Odai 1st Cross Street has experienced several revisions over the years. In 2003, the guideline value was Rs 181 per sq.ft, which rose to Rs 600 per sq.ft in 2007. This marked an increase of 231%. The value further increased to Rs 2,500 per sq.ft in 2012, reflecting a significant rise of 317%. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 2,750 per sq.ft, representing a 10% increase from the 2012 figure.

It is important to note that there are no figures available for the revisions in 2002, 2017, and 2023 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1419%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Rayapettai Odai 1st Cross Street's 2024 figure below this median.

• Rayapettai Odai 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai Street: Rs 2,750 per sq.ft (2024)
• Ravi Street: Rs 2,160 per sq.ft (2024)
• R.B.Colony 1 To 5 Streets: Rs 3,300 per sq.ft (2024)
• Renuka Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rayapettai Odai 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total of Rs 2,47,500. 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 further calculations.

Which Sub Registrar Office covers Rayapettai Odai 1st Cross Street?

The Sub Registrar Office that covers Rayapettai Odai 1st Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that need to be paid during the registration of the property.

When buying or selling property, the guideline value is considered to ensure that the transaction is recorded accurately in the official registry. This helps in maintaining transparency in property dealings and ensures compliance with the local regulations.

Frequently asked questions

What is the current guideline value of Rayapettai Odai 1st Cross Street?

The current guideline value of Rayapettai Odai 1st Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 181 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1419% over the years.

What is the land classification for Rayapettai Odai 1st Cross Street?

Rayapettai Odai 1st Cross Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Rayapettai Odai 1st Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is charged at 2%. For example, for a property valued at Rs 27,50,000, the total fees would amount to Rs 2,47,500.