Guideline Value for PETER RAJA STREET

Peter Raja Street guideline value

The current guideline value of Peter Raja Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Peter Raja Street has changed

The guideline value for Peter Raja Street has seen several revisions over the years. In the 2003 revision, the value was Rs 919 per sq.ft, which increased to Rs 1,100 per sq.ft in 2007. The 2012 revision saw a further increase to Rs 5,200 per sq.ft, but this was followed by a decrease to Rs 3,685 per sq.ft in 2017. The 2023 revision marked a significant rise to Rs 5,500 per sq.ft, and the latest revision in 2024 has set the value at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 553%. Notably, there is no figure available for Peter Raja Street in the 2002 revision.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, which is equal to the current guideline value of Peter Raja Street.

• Pillai Street: Rs 5,000 per sq.ft (2024)
• Pillaiyar Koil (Near 100 Feet Road): Rs 6,600 per sq.ft (2024)
• Perumal Koil Street: Rs 6,000 per sq.ft (2024)
• Perumal Koil Garden Street: Rs 6,000 per sq.ft (2024)
• Pillaiyar Koil Street (Near Panchaliamman Koil Street): Rs 6,600 per sq.ft (2024)
• Periyapalayathamman Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Peter Raja Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total cost for these fees to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Peter Raja Street?

The Sub Registrar Office that covers Peter Raja Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Peter Raja Street?

The current guideline value of Peter Raja Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 919 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 553% over this period.

What is the land classification for Peter Raja Street?

The land classification for Peter Raja Street is Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Peter Raja Street?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Where is the Sub Registrar Office for Peter Raja Street located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.