Guideline Value for SOUTH STREET

South Street guideline value

The current guideline value of South Street in Beerakupam village is Rs 150 per sq.ft, effective from 1 July 2024. This street falls under the Ramakrishna Rajupettai SRO and is classified as Residential Class II Type - I.

How the guideline value of South Street has changed

The guideline value for South Street has seen several revisions over the years. In 2007, the value was Rs 60 per sq.ft, which increased to Rs 150 per sq.ft in 2012. However, it dropped to Rs 100 per sq.ft in 2017, before remaining at Rs 150 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 50%. The value remained unchanged from 2023 to 2024, reflecting a 0% change. Overall, from 2007 to 2024, the guideline value has increased by 150%.

Guideline values in Beerakupam

In Beerakupam, there are 10 streets under the Ramakrishna Rajupettai SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 200 per sq.ft, with a median value of Rs 175 per sq.ft. South Street's 2024 figure is below this median.

• S.Agraharam New Road: Rs 150 per sq.ft (2024)
• Vaniyar Street: Rs 175 per sq.ft (2024)
• Vannara Street: Rs 175 per sq.ft (2024)
• Passukal Battai Street: Rs 150 per sq.ft (2024)
• Noochili Road: Rs 175 per sq.ft (2024)
• Navithar Street: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total to Rs 13,500. It's 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 South Street?

The Sub Registrar Office covering South Street is the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Beerakupam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

Buyers and sellers should be aware that the guideline value may differ from the sale price, and the duty will be charged on whichever amount is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of South Street?

The current guideline value of South Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 150 per sq.ft in 2012, then to Rs 100 per sq.ft in 2017, and remains at Rs 150 per sq.ft in 2023 and 2024.

What is the median guideline value in Beerakupam?

The median guideline value in Beerakupam is Rs 175 per sq.ft, with South Street's 2024 figure being below this median.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Sub Registrar Office for South Street?

The Sub Registrar Office for South Street is the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone.