Guideline Value for RAJA STREET

Raja Street guideline value

The current guideline value of Raja Street, located in Korattur village under the Villivakkam SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - III land classification.

How the guideline value of Raja Street has changed

The guideline value of Raja Street has seen several revisions over the years. In 2002, the guideline value was Rs 115 per sq.ft, which increased significantly to Rs 375 per sq.ft in 2007, marking a change of +226%. The value remained unchanged at Rs 1,500 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 raised the value to Rs 1,600 per sq.ft, reflecting a +7% increase from the previous year.

Notably, there are no figures available for the revisions in 2003 and 2017 for Raja Street. Overall, from 2002 to 2024, the guideline value has increased by +1291%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, indicating that Raja Street's 2024 value of Rs 1,600 per sq.ft is below this median.

• RAJIV GANDHI NAGAR (THATANKUPPAM) 1st STREET: Rs 2,100 per sq.ft (2024)
• RAJIV GANDHI NAGAR (THATANKUPPAM) 2nd STREET: Rs 2,100 per sq.ft (2024)
• RAJIV GANDHI NAGAR (THATANKUPPAM) 3rd STREET: Rs 2,100 per sq.ft (2024)
• RAJIV GANDHI NAGAR (THATANKUPPAM) 4th STREET: Rs 2,100 per sq.ft (2024)
• RAJIV GANDHI NAGAR (THATANKUPPAM) 5th STREET: Rs 2,100 per sq.ft (2024)
• RAJIV GANDHI NAGAR (THATANKUPPAM) 6th STREET: Rs 2,100 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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 information.

Which Sub Registrar Office covers Raja Street?

The Sub Registrar Office that covers Raja Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Korattur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Keeping up-to-date with revisions in guideline values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Raja Street?

The current guideline value of Raja Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 115 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of +1291% over the years.

What are the other streets in Korattur with their guideline values?

Other streets in Korattur include several streets in Rajiv Gandhi Nagar, all valued at Rs 2,100 per sq.ft in 2024.

What is the stamp duty rate for property in Raja Street?

The stamp duty for property transactions in Raja Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Raja Street?

The Sub Registrar Office for Raja Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more details through the provided link.