Guideline Value for Rayar Street

Rayar Street guideline value

The current guideline value of Rayar Street is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Uthiramerur village, under the Uthiramerur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Rayar Street has changed

The guideline value for Rayar Street has seen significant changes over the years. In the 2007 revision, the value was Rs 147 per sq.ft. This increased to Rs 800 per sq.ft in 2012, marking a rise of 444%. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, a decline of 33%. The value then rose dramatically to Rs 1,500 per sq.ft in both the 2023 and 2024 revisions, reflecting an increase of 180% from 2017 to 2023, with no change from 2023 to 2024.

The register has no figures for Rayar Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 920%.

Guideline values in Uthiramerur

In Uthiramerur village, there are 180 streets under the Uthiramerur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,800 per sq.ft. The median guideline value is Rs 800 per sq.ft, placing Rayar Street's 2024 figure above this median.

• Risarve Kulam Street: Rs 1,000 per sq.ft (2024)
• Ramji Ragar: Rs 700 per sq.ft (2024)
• Raj Street: Rs 700 per sq.ft (2024)
• Sadhkkam Pudhu Street: Rs 900 per sq.ft (2024)
• Sakkaram Godhandarama Iyyangar Street: Rs 1,000 per sq.ft (2024)
• Sandilya Nagar: Rs 402 per sq.ft (2024)

Stamp duty and registration fee for property in Rayar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total fees together to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rayar Street?

The Sub Registrar Office that covers Rayar Street is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Uthiramerur. It serves as a benchmark for determining the amount of stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the registration office utilizes the guideline value to ensure that the correct fees are collected. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Rayar Street?

The current guideline value of Rayar Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Rayar Street has increased significantly from Rs 147 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, marking an overall increase of 920% over the years.

What is the land classification of Rayar Street?

Rayar Street is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

Where can I find the Uthiramerur Sub Registrar Office?

The Uthiramerur Sub Registrar Office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,00,000, the total fees would amount to Rs 1,35,000.