Guideline Value for RAJACHAR STREET

Rajachar Street guideline value

The current guideline value of Rajachar Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Mixed Special Type - II.

How the guideline value of Rajachar Street has changed

The guideline value for Rajachar Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,410 per sq.ft, which increased to Rs 2,850 per sq.ft in 2003, marking a significant rise of 102%. The value continued to rise, reaching Rs 4,000 per sq.ft in 2007, a 40% increase. The next revision in 2012 saw a drop to Rs 12,000 per sq.ft, a decrease of 33%. However, the value rebounded to Rs 8,040 per sq.ft in 2017, reflecting a 49% increase. The 2023 revision set the value at Rs 12,000 per sq.ft, which then increased by 10% to the current figure of Rs 13,200 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 836%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Tnagar

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

• Rajabathar Street: Rs 11,000 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 Rajachar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, making the total cost for these fees Rs 11,88,000. 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 details.

Which Sub Registrar Office covers Rajachar Street?

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

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

The guideline value is an essential factor in property transactions in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. Thus, understanding the guideline value is crucial for anyone involved in property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajachar Street?

The current guideline value of Rajachar Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,410 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 836%.

What is the land classification of Rajachar Street?

Rajachar Street is classified as Mixed Special Type - II under the Thiyagaraya nagar SRO.

How do stamp duty and registration fees work for properties in Rajachar Street?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur total fees of Rs 11,88,000.

Where is the Sub Registrar Office for Rajachar Street located?

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