Guideline Value for Risarve Kulam Street

Risarve Kulam Street guideline value

The current guideline value of Risarve Kulam Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Uthiramerur village, under the Uthiramerur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Risarve Kulam Street has changed

Over the years, the guideline value for Risarve Kulam Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 147 per sq.ft. This value increased significantly to Rs 1,000 per sq.ft in 2012, marking a substantial rise of 580%. However, between 2012 and 2017, the value decreased by 33% to Rs 670 per sq.ft. The most recent revisions in 2023 and 2024 maintained the value at Rs 1,000 per sq.ft, indicating no change from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street in the register. The overall change from 2007 to 2024 reflects a remarkable increase of 580% in the guideline value.

Guideline values in Uthiramerur

In Uthiramerur, there are a total of 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 value for these streets is Rs 800 per sq.ft, placing Risarve Kulam Street's 2024 figure above this median.

• Rayar Street: Rs 1,500 per sq.ft (2024)
• Ramji Ragar: Rs 700 per sq.ft (2024)
• Sadhkkam Pudhu Street: Rs 900 per sq.ft (2024)
• Raj Street: Rs 700 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 Risarve Kulam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, resulting in a total of Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Risarve Kulam Street?

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

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Uthiramerur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities will charge the stamp duty based on the higher value between the guideline value and the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Risarve Kulam Street?

The current guideline value of Risarve Kulam Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant increase occurring from 2007 to 2012, where it rose from Rs 147 to Rs 1,000 per sq.ft. The value remained at Rs 1,000 per sq.ft in 2012, 2023, and 2024.

What is the land classification for Risarve Kulam Street?

Risarve Kulam Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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 is stamp duty calculated for properties in Uthiramerur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.