Guideline Value for RAJA VEETHI

Raja Veethi guideline value

The current guideline value of Raja Veethi is Rs 5,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Raja Veethi has changed

Over the years, the guideline value of Raja Veethi has seen significant changes. The 2003 revision recorded a value of Rs 824 per sq.ft, which increased to Rs 1,300 per sq.ft in 2007, marking a rise of 58%. The value then surged to Rs 4,900 per sq.ft in 2012, reflecting a remarkable increase of 277%. However, from 2012 to 2017, the value decreased to Rs 3,283 per sq.ft, a decline of 33%. The guideline value further increased to Rs 4,900 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 5,300 per sq.ft, an increase of 8% from the previous year.

In summary, from the 2003 revision to the current 2024 revision, the guideline value has risen by a total of 543%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing Raja Veethi's 2024 figure below this median.

• Rajeswari Street: Rs 4,400 per sq.ft (2024)
• Rajaram Film Directors Colony: Rs 7,100 per sq.ft (2024)
• Rajaram Colony: Rs 7,100 per sq.ft (2024)
• Rajapuranikar 2nd Street: Rs 3,800 per sq.ft (2024)
• Rajapuranikar 1st Street: Rs 3,800 per sq.ft (2024)
• Raju Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Veethi

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value amounts to Rs 53,00,000. The stamp duty, charged at 7%, would be Rs 3,71,000, while the registration fee at 2% would be Rs 1,06,000, resulting in a total of Rs 4,77,000. 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 precise calculations based on your property transaction.

Which Sub Registrar Office covers Raja Veethi?

The Sub Registrar Office that covers Raja Veethi 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 Puliyur

The guideline value plays a crucial role in the registration process of property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Raja Veethi?

The current guideline value of Raja Veethi is Rs 5,300 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 824 per sq.ft in 2003 to Rs 5,300 per sq.ft in 2024, reflecting an overall increase of 543% over this period.

What is the land classification for Raja Veethi?

Raja Veethi is classified as Residential Class II Type - I under the Kodambakkam SRO.

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

For a property valued at Rs 53,00,000, the total stamp duty would be Rs 3,71,000 and the registration fee would be Rs 1,06,000, totaling Rs 4,77,000.

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

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