Guideline Value for RAJAJI NAGAR 1ST STREET

Rajaji Nagar 1st Street guideline value

The current guideline value of Rajaji Nagar 1st Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Rajaji Nagar 1st Street has changed

The guideline value for Rajaji Nagar 1st Street has seen several revisions over the years. In 2002, the value was Rs 917 per sq.ft, which increased to Rs 1,015 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,800 per sq.ft in 2007, reflecting a 77% increase. Following that, in 2012, the guideline value reached Rs 9,000 per sq.ft, which was a substantial increase of 400%. However, in 2017, it dropped to Rs 6,030 per sq.ft, a decrease of 33%. The value then increased again to Rs 9,000 per sq.ft in 2023, before reaching the current figure of Rs 9,900 per sq.ft in 2024, which is a 10% increase from the previous year. There are no figures available for the years between these revisions for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value is Rs 9,900 per sq.ft, which is equal to the current guideline value of Rajaji Nagar 1st Street.

• Rajaji Nagar 1st Cross Street: Rs 9,900 per sq.ft (2024)
• Rajaji Nagar 2nd Cross Street: Rs 8,250 per sq.ft (2024)
• Rajaji Nagar 2nd Street: Rs 9,900 per sq.ft (2024)
• Rajaji Nagar: Rs 9,900 per sq.ft (2024)
• Rajagopal Street: Rs 12,650 per sq.ft (2024)
• Rajaji Nagar Main Road: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajaji Nagar 1st Street?

The Sub Registrar Office that covers Rajaji Nagar 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Thiruvanmiyur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable fees. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 1st Street?

The current guideline value of Rajaji Nagar 1st Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 917 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, representing an overall increase of 980% over the years.

What is the land classification for Rajaji Nagar 1st Street?

Rajaji Nagar 1st Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Rajaji Nagar 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the actual sale price of the property. For example, for a plot valued at Rs 99,00,000, the total fees would amount to Rs 8,91,000.