Guideline Value for Rotlars lane

Rotlars lane guideline value

The current guideline value of Rotlars lane in Muthialpet village, under the Chennai North Joint I SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - II land classification.

How the guideline value of Rotlars lane has changed

The guideline value for Rotlars lane has undergone several revisions over the years. In 2002, the guideline value was Rs 740 per sq.ft. This figure increased to Rs 841 per sq.ft in 2003, marking a 14% rise. The value saw further increases, reaching Rs 1,200 per sq.ft in 2007, which was a 43% increase from the previous revision. The next significant revision occurred in 2012, where the value was set at Rs 3,500 per sq.ft, reflecting a substantial 192% increase from 2007. However, this was followed by a decrease to Rs 2,345 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 3,500 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft, which is a 9% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 414%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Rotlars lane's 2024 figure below this median.

• R.S.S. street+: Rs 11,000 per sq.ft (2024)
• Saiva Muthiah mudali street: Rs 5,500 per sq.ft (2024)
• Saiva Muthiah mudali street 1to5 lane: Rs 4,900 per sq.ft (2024)
• Salai Vinayagar Koil 1st lane: Rs 5,200 per sq.ft (2024)
• Salai Vinayagar Koil 2nd lane: Rs 5,200 per sq.ft (2024)
• Salai Vinayagar Koil street *: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Rotlars lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000. Together, these fees would total Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rotlars lane?

The Sub Registrar Office that covers Rotlars lane is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more details.

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

The guideline value is a crucial component in the property registration process in Muthialpet. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these fees are calculated based on a standard valuation set by the authorities.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. This ensures transparency and consistency in property transactions within the area.

Frequently asked questions

What is the current guideline value of Rotlars lane?

The current guideline value of Rotlars lane is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 740 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 414% over this period.

What are the stamp duty and registration fees for property in Rotlars lane?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000, and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles property registrations for Rotlars lane?

The Chennai North Joint I Sub Registrar Office handles property registrations for Rotlars lane, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

What is the land classification for Rotlars lane?

Rotlars lane falls under the Residential Class III Type - II land classification, which is relevant for determining the guideline value and other regulatory aspects.