Guideline Value for Rayapettai Odai 2nd Cross Street

Rayapettai Odai 2nd Cross Street guideline value

The current guideline value of Rayapettai Odai 2nd 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 2nd Cross Street has changed

The guideline value for Rayapettai Odai 2nd Cross Street has seen significant changes over the years. The earliest recorded value was Rs 181 per sq.ft in 2003, which increased to Rs 600 per sq.ft in 2007, marking a substantial rise of 231%. Following this, the value jumped to Rs 2,500 per sq.ft in 2012, reflecting an increase of 317%. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, showing a 10% increase from the 2012 figure.

It is important to note that there are no recorded figures for the years 2023, 2017, and 2002 for this street. Overall, the guideline value has increased by 1,419% from the 2003 revision to the 2024 revision.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, which means that Rayapettai Odai 2nd Cross Street's 2024 figure is below the median.

• Rayapettai Odai 1st 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 2nd 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, making the total cost for these fees Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rayapettai Odai 2nd Cross Street?

The Sub Registrar Office that covers Rayapettai Odai 2nd Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Zaminpallavaram

The guideline value plays a crucial role in the property registration process in Zaminpallavaram. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Rayapettai Odai 2nd Cross Street?

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

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased significantly from Rs 181 per sq.ft to Rs 2,750 per sq.ft in 2024, which is an overall increase of 1,419%.

What is the land classification for Rayapettai Odai 2nd Cross Street?

Rayapettai Odai 2nd Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Rayapettai Odai 2nd Cross Street?

The Sub Registrar Office for Rayapettai Odai 2nd Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be calculated at 7% of this amount.