Guideline Value for Ruthra Road

Ruthra Road guideline value

The current guideline value of Ruthra Road in Parangimalai village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Ruthra Road has changed

The guideline value for Ruthra Road has seen several revisions over the years. In 2002, the value was Rs 496 per sq.ft. It increased to Rs 620 per sq.ft in 2003, marking a 25% rise. The value further increased to Rs 1,100 per sq.ft in 2007, reflecting a significant jump of 77%. By 2012, the value reached Rs 3,000 per sq.ft, an increase of 173%. However, it then decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and finally, it increased to Rs 3,300 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 565%. There are no revisions with figures missing for Ruthra Road in the register.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, and Ruthra Road's 2024 figure is below that median.

• Sain Thomas Mount Road: Rs 4,400 per sq.ft (2024)
• Saint Patrick Church 1 to 5 Street: Rs 4,400 per sq.ft (2024)
• Saint Patrick Church Road: Rs 4,400 per sq.ft (2024)
• Ravi Colony Lay Out: Rs 4,400 per sq.ft (2024)
• Ravi Colony Cross Street S.No.420: Rs 4,400 per sq.ft (2024)
• Ravi Colony 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ruthra Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, these fees would total Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Ruthra Road?

The Sub Registrar Office that covers Ruthra Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property in Parangimalai. It determines the amount of stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value can influence the overall cost of property transactions.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and legally. It serves as a benchmark for the value of the property, ensuring that all parties involved are aware of the official valuation.

Frequently asked questions

What is the current guideline value of Ruthra Road?

The current guideline value of Ruthra Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 496 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 565%.

What are the stamp duty and registration fees for property on Ruthra Road?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 2,97,000.

Which Sub Registrar Office covers Ruthra Road?

The Chennai South Joint II Sub Registrar Office covers Ruthra Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the median guideline value in Parangimalai?

The median guideline value in Parangimalai is Rs 3,850 per sq.ft, while Ruthra Road's current value is below this median at Rs 3,300 per sq.ft.