Guideline Value for RAJAJI STREET

Rajaji Street guideline value

The current guideline value of Rajaji Street in SingaperumalKoil village is Rs 1,500 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Mixed Type - I land.

How the guideline value of Rajaji Street has changed

The guideline value for Rajaji Street has seen several revisions over the years. In the 2007 revision, the value was Rs 154 per sq.ft, which significantly increased to Rs 1,500 per sq.ft in the 2012 revision, marking an increase of 874%. However, in the 2017 revision, the value dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The 2023 revision maintained the value at Rs 1,500 per sq.ft, and this figure remained unchanged in the 2024 revision.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 874%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in SingaperumalKoil

In SingaperumalKoil, there are 33 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. Rajaji Street's current guideline value of Rs 1,500 per sq.ft is above this median.

• Railway Station Street (West Side From G.S.T.): Rs 1,500 per sq.ft (2024)
• Rajammal Street: Rs 1,100 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 800 per sq.ft (2024)
• Pavender Street: Rs 1,100 per sq.ft (2024)
• Sandai Mettu Street: Rs 1,500 per sq.ft (2024)
• Sannadhi Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. 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 Rajaji Street?

The Sub Registrar Office that covers Rajaji Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in SingaperumalKoil. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be familiar with the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from Rs 154 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012. It remained at Rs 1,500 per sq.ft in the 2023 and 2024 revisions.

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

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000, and the registration fee would be Rs 30,000, totaling Rs 1,35,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Rajaji Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Rajaji Street. It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification of Rajaji Street?

Rajaji Street is classified as Mixed Type - I land, which is a designation that can affect its usage and value in property transactions.