Guideline Value for RAJA NAIKAR STREE

Raja Naikar Stree guideline value

The current guideline value of Raja Naikar Stree is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Sivabootham village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Raja Naikar Stree has changed

The guideline value for Raja Naikar Stree has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 1,500 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,005 per sq.ft, reflecting a significant increase of 49% from the previous value of Rs 1,500 per sq.ft in 2012. Notably, the register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The 2012 revision's value of Rs 1,500 per sq.ft was followed by a decrease of 33% to Rs 1,005 per sq.ft in 2017, before the values rose again in subsequent revisions.

Guideline values in Sivabootham

Sivabootham village features 39 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,120 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which matches the current value of Raja Naikar Stree.

• Poonamalle High Way: Rs 3,300 per sq.ft (2024)
• Pilliyar Koil Street: Rs 1,650 per sq.ft (2024)
• Pilliyar Koil 1st Street: Rs 1,650 per sq.ft (2024)
• Perumal Koil Stree: Rs 1,650 per sq.ft (2024)
• Perumal Koil 3rd Stree: Rs 1,650 per sq.ft (2024)
• Perumal Koil 2nd Stree: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Naikar Stree

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Naikar Stree?

The Sub Registrar Office that covers Raja Naikar Stree is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. For further details, you can find your SRO.

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

The guideline value is a crucial reference point when buying or selling property in Sivabootham. It is used to determine the stamp duty and registration fees that need to be paid during the property transaction process. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations and to accurately calculate their costs.

When a property is registered, the guideline value or the sale price, whichever is higher, will be the basis for calculating the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Raja Naikar Stree?

The current guideline value for Raja Naikar Stree is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, and from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2012.

Which Sub Registrar Office is responsible for Raja Naikar Stree?

The Chennai South Joint I Sub Registrar Office is responsible for Raja Naikar Stree, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the stamp duty and registration fees for properties in Raja Naikar Stree?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 16,50,000, the total stamp duty and registration fees would amount to Rs 1,48,500.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a reference point to ensure compliance with local regulations and to determine the costs associated with buying or selling a property.