Guideline Value for RAJA STREET

Raja Street guideline value

The current guideline value of Raja Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Mixed Special Type - I.

How the guideline value of Raja Street has changed

The guideline value for Raja Street has undergone several revisions over the years. In 2002, the value was Rs 2,437 per sq.ft, which increased to Rs 2,705 per sq.ft in 2003, marking an 11% rise. The value then saw another increase to Rs 3,000 per sq.ft in 2007, a significant jump of 11%. Following this, the value surged to Rs 13,000 per sq.ft in 2012, reflecting a remarkable increase of 333%. However, it decreased to Rs 8,710 per sq.ft in 2017, a drop of 33%. The guideline value then rose to Rs 13,000 per sq.ft in 2023, before reaching the current figure of Rs 14,300 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 487%. The register has no figure for the years not mentioned in the list provided.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values for 2024 ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value is Rs 11,000 per sq.ft, placing Raja Street's 2024 figure above this median.

• Rajapillai Thottam: Rs 5,500 per sq.ft (2024)
• Rajan Street: Rs 13,200 per sq.ft (2024)
• Rajambal Street: Rs 13,200 per sq.ft (2024)
• Rajamannar Street: Rs 13,200 per sq.ft (2024)
• Ramachandra Road: Rs 11,000 per sq.ft (2024)
• Ramachandra Street: Rs 6,600 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 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total fees together to Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Street?

The Sub Registrar Office that covers Raja Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Tnagar. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Raja Street?

The current guideline value of Raja Street is Rs 14,300 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 2,437 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, reflecting an overall increase of 487% over this period.

What is the land classification for Raja Street?

The land classification for Raja Street is Mixed Special Type - I, indicating the nature of land use in the area.

Where is the Thiyagaraya nagar Sub Registrar Office located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.