Guideline Value for M.C. Raja Street

M.C. Raja Street guideline value

The current guideline value of M.C. Raja Street in Zaminpallavaram village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of M.C. Raja Street has changed

The guideline value of M.C. Raja Street has seen several revisions over the years. In 2003, the value was Rs 122 per sq.ft, which increased to Rs 600 per sq.ft in 2007. The 2012 revision set the value at Rs 2,500 per sq.ft, but it dropped to Rs 1,675 per sq.ft in 2017. The 2023 revision brought it back up to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,750 per sq.ft. The register has no figure for this street in 2002.

From 2017 to 2023, there was a significant increase of 49%. The value then rose by 10% from 2023 to 2024. Notably, the value saw a remarkable increase of 317% from 2007 to 2012, and an even larger jump of 392% from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 2154%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing M.C. Raja Street's 2024 figure below that median. Here are some other streets in Zaminpallavaram:

• M.C.M. Nagar: Rs 2,750 per sq.ft (2024)
• Meenakshi Avenue: Rs 3,520 per sq.ft (2024)
• Masthan Sheriff Nagar: Rs 3,520 per sq.ft (2024)
• M.E.S. Colony: Rs 2,750 per sq.ft (2024)
• M.E.S. Lane Presently Veerapadran Street: Rs 2,750 per sq.ft (2024)
• Market Road: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in M.C. Raja Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.C. Raja Street?

The M.C. Raja Street falls under the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Zaminpallavaram. It is used to determine the stamp duty and registration fees payable when buying or selling a property. The guideline value ensures that the government receives appropriate revenue from property transactions.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of M.C. Raja Street?

The current guideline value of M.C. Raja Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 122 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 2154% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft, the total fees would amount to Rs 2,47,500.

Which office handles property registrations for M.C. Raja Street?

The Pallavaram Sub Registrar Office handles property registrations for M.C. Raja Street, located at 7th Main Road, New Colony, Chromepet, Chennai.

What is the land classification for M.C. Raja Street?

M.C. Raja Street is classified as Residential Class II Type - I, indicating its suitability for residential development.