Guideline Value for RAJABATHAR STREET

Rajabathar Street guideline value

The current guideline value of Rajabathar Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - I.

How the guideline value of Rajabathar Street has changed

The guideline value for Rajabathar Street has undergone several revisions over the years. In 2002, the value was Rs 2,070 per sq.ft. This increased to Rs 2,298 per sq.ft in 2003, marking an 11% rise. The value saw a significant jump to Rs 3,000 per sq.ft in 2007, which was a 31% increase. By 2012, the value adjusted to Rs 10,000 per sq.ft, reflecting a substantial increase of 233% from the previous revision. However, in 2017, the value decreased to Rs 6,700 per sq.ft, indicating a decline of 33%. The guideline value then rose to Rs 10,000 per sq.ft in 2023, before reaching the current figure of Rs 11,000 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 431%. The register has no figure for the years not listed in this summary.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, which matches the current guideline value of Rajabathar Street.

• Rajachar Street: Rs 13,200 per sq.ft (2024)
• Railway Border Road: Rs 6,600 per sq.ft (2024)
• Ragahviah Road: Rs 14,300 per sq.ft (2024)
• Radhakrishna Road/ Radhakrishna Street: Rs 8,300 per sq.ft (2024)
• Rajamannar Street: Rs 13,200 per sq.ft (2024)
• Rajambal Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajabathar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, while the registration fee at 2% would be Rs 2,20,000. Together, the total cost for these fees would be Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajabathar Street?

The Sub Registrar Office that covers Rajabathar 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the guideline value is correctly reflected in the documentation. This ensures compliance with local regulations and helps avoid any potential legal issues in future transactions.

Frequently asked questions

What is the current guideline value of Rajabathar Street?

The current guideline value of Rajabathar Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,070 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 431% over this period.

What are the stamp duty and registration fees for property in Rajabathar Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 7,70,000 and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Which Sub Registrar Office covers Rajabathar Street?

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

What is the land classification of Rajabathar Street?

Rajabathar Street is classified as Residential Special Type - I under the current regulations.