Guideline Value for Rayapettai Odai Street

Rayapettai Odai Street guideline value

The current guideline value of Rayapettai Odai 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 Street has changed

The guideline value for Rayapettai Odai Street has seen several revisions over the years. The earliest recorded value was Rs 181 per sq.ft in 2003, which increased significantly to Rs 600 per sq.ft in 2007, marking a change of +231%. By 2012, the value rose to Rs 2,500 per sq.ft, reflecting a substantial increase of +317% from the 2007 figure. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, which is a +10% increase from the 2012 value.

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

Guideline values in Zaminpallavaram

In Zaminpallavaram village, there are 638 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Rayapettai Odai Street is below this median.

• Rayapettai Odai 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai 2nd Cross 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 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, bringing the total fees together 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rayapettai Odai Street?

The Sub Registrar Office that covers Rayapettai Odai 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 details.

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. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

Buyers and sellers must be aware that the guideline value may differ from the sale price. Therefore, the higher of the two values will be considered for calculating the stamp duty and registration fees during the registration process.

Frequently asked questions

What is the current guideline value of Rayapettai Odai Street?

The current guideline value of Rayapettai Odai 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 significantly from Rs 181 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +1419% over this period.

What is the land classification of Rayapettai Odai Street?

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

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

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

How is the stamp duty calculated for properties in Rayapettai Odai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500.