Guideline Value for Retta Kuzhi Street

Retta Kuzhi Street guideline value

The current guideline value of Retta Kuzhi Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Retta Kuzhi Street has changed

In the 2017 revision, the guideline value was Rs 1,005 per sq.ft. With the latest revision in 2024, the guideline value increased to Rs 1,600 per sq.ft, marking a significant change of 59%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

This increase reflects the adjustments made over the years, with the 2024 figure aligning with the median guideline value for Tondaiarpet, which is also Rs 1,600 per sq.ft. The previous revisions did not provide a consistent value for this street, highlighting the fluctuations in property assessments over time.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. Retta Kuzhi Street's 2024 guideline value of Rs 1,600 per sq.ft is equal to the median value for the area.

• Robinson colony 1st Lane: Rs 2,200 per sq.ft (2024)
• Robinson colony 2nd Lane: Rs 2,200 per sq.ft (2024)
• Rope Godown Street: Rs 2,200 per sq.ft (2024)
• Rathnasabhapathy Street: Rs 2,200 per sq.ft (2024)
• Rathnasabhapathy Lane: Rs 2,200 per sq.ft (2024)
• Sajja Munusamy 1st lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Retta Kuzhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, making the total fees Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Retta Kuzhi Street?

The Sub Registrar Office that covers Retta Kuzhi Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Tondaiarpet. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the official value of the property for legal and tax purposes. This value must be considered to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Retta Kuzhi Street?

The current guideline value of Retta Kuzhi Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, which is a change of 59%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What are the registration fees for property in Retta Kuzhi Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value. For a property valued at Rs 16,00,000, the total fees would amount to Rs 1,44,000.

Which office handles property registrations for Retta Kuzhi Street?

The Royapuram Sub Registrar Office handles property registrations for Retta Kuzhi Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the guideline value determined for properties in Tondaiarpet?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market conditions. It serves as a reference point for calculating taxes and fees during property transactions.