Guideline Value for Rayapettai Odai 3rd Cross Street

Rayapettai Odai 3rd Cross Street guideline value

The current guideline value of Rayapettai Odai 3rd 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 3rd Cross Street has changed

The guideline value for Rayapettai Odai 3rd Cross Street has seen significant changes over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 181 per sq.ft. This increased to Rs 600 per sq.ft in 2007, marking a substantial rise of 231%. By 2012, the value had jumped to Rs 2,500 per sq.ft, reflecting a remarkable increase of 317% from the 2007 figure. The latest revision in 2024 set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the 2012 figure.

There are several years where the register has no figure for Rayapettai Odai 3rd Cross Street, including 2023, 2017, and 2002. Overall, from 2003 to 2024, the guideline value has increased by 1,419%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that have a guideline value for 2024, 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 3rd Cross Street's value below the median.

• Rayapettai Odai 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai 1st Cross 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 3rd 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 amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rayapettai Odai 3rd Cross Street?

The Sub Registrar Office that covers Rayapettai Odai 3rd 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 further assistance.

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

The guideline value plays a crucial role in the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value of a property during the registration process, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of Rayapettai Odai 3rd Cross Street?

The current guideline value of Rayapettai Odai 3rd 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 increased significantly from Rs 181 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1,419%.

What is the classification of land for Rayapettai Odai 3rd Cross Street?

Rayapettai Odai 3rd Cross Street is classified as Residential Class II Type - I.

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

The Pallavaram Sub Registrar Office, which covers Rayapettai Odai 3rd Cross Street, is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, on a 1,000 sq.ft plot, the total fees amount to Rs 2,47,500.