Guideline Value for Rope Godown Street

Rope Godown Street guideline value

The current guideline value of Rope Godown Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class I Type - I.

How the guideline value of Rope Godown Street has changed

The guideline value for Rope Godown Street has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. However, the latest revision in 2024 has increased the value to Rs 2,200 per sq.ft, marking a significant increase of 64% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Rope Godown Street's current value above this median.

• Robinson colony 2nd Lane: Rs 2,200 per sq.ft (2024)
• Robinson colony 1st Lane: Rs 2,200 per sq.ft (2024)
• Retta Kuzhi Street: Rs 1,600 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 Rope Godown Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rope Godown Street?

The Sub Registrar Office that covers Rope Godown 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 process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, which can impact the overall cost of the sale. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Rope Godown Street?

The current guideline value of Rope Godown Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What is the median guideline value in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft. Rope Godown Street's current value is above this median.

What are the stamp duty and registration fees for properties in Rope Godown Street?

For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 1,98,000. This includes a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.

Which office handles registration for Rope Godown Street?

The Royapuram Sub Registrar Office handles the registration for Rope Godown Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.