Guideline Value for RAJA STREET

Raja Street guideline value

The current guideline value of Raja Street in Sholinganallur - 1 village is Rs 2,200 per sq.ft, effective from the 2024 revision. This street falls under the Neelankarai SRO and is classified as Residential Class II Type - III.

How the guideline value of Raja Street has changed

The guideline value for Raja Street has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. With the latest revision in 2024, the value increased to Rs 2,200 per sq.ft, marking a substantial rise of 64% from the previous figure.

It is important to note that there are no figures available for Raja Street in the register for the years 2023, 2012, 2007, 2003, and 2002. Therefore, the only revisions that reflect a guideline value are from 2017 and 2024.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Raja Street.

• Rajiv Gandhi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 1st Street Extension: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 4th Cross Street Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Raja Street?

The Sub Registrar Office that covers Raja Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a critical factor in the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is registered, the guideline value is assessed to ensure that the correct fees are applied. This helps maintain transparency and fairness in property transactions, ensuring that both buyers and sellers are aware of the costs involved.

Frequently asked questions

What is the current guideline value of Raja Street?

The current guideline value of Raja Street is Rs 2,200 per sq.ft, effective from the 2024 revision.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, which is a rise of 64%.

Are there any years with no guideline value for Raja Street?

Yes, the guideline value register has no figures for Raja Street for the years 2023, 2012, 2007, 2003, and 2002.

What is the classification of land for Raja Street?

Raja Street is classified as Residential Class II Type - III according to the land classification standards.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.