Guideline Value for West Ratha Veethi

West Ratha Veethi guideline value

The current guideline value of West Ratha Veethi is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO and is classified as Residential Class II Type - I.

How the guideline value of West Ratha Veethi has changed

The guideline value for West Ratha Veethi has seen significant changes over the years. In 2003, the value was Rs 256 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following this, the value rose dramatically to Rs 1,072 per sq.ft in 2017, marking a 257% increase from the previous revision. The next revision in 2023 set the value at Rs 1,600 per sq.ft, a 49% increase from 2017. The current revision in 2024 shows a further increase to Rs 1,760 per sq.ft, reflecting a 10% rise from 2023.

It is important to note that there are no figures available for the years 2002 and 2012 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 588%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value of West Ratha Veethi is below this median.

• Yadawal Street: Rs 1,760 per sq.ft (2024)
• Yadhaval Street Lane: Rs 1,320 per sq.ft (2024)
• VOC Street: Rs 1,760 per sq.ft (2024)
• VOC Nagar 2nd Street: Rs 1,870 per sq.ft (2024)
• VOC Nagar 2nd Cross Street: Rs 1,870 per sq.ft (2024)
• VOC Nagar 1st Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in West Ratha Veethi

For a 1,000 sq.ft plot at the current rate of Rs 1,760 per sq.ft, the guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total Rs 1,58,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West Ratha Veethi?

The Sub Registrar Office that covers West Ratha Veethi is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Anakaputhur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is registered, the guideline value is considered to establish the minimum value for taxation purposes. This means that the stamp duty and registration fees will be calculated based on the guideline value or the actual sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of West Ratha Veethi?

The current guideline value of West Ratha Veethi is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 256 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 588% over this period.

What is the land classification for West Ratha Veethi?

West Ratha Veethi is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the Pammal SRO located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Anakaputhur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 at 7%.