Guideline Value for RAJAJI NAGAR SLUM

Rajaji Nagar Slum guideline value

The current guideline value of Rajaji Nagar Slum is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village and falls under the Mylapore SRO. The land classification for this street is Residential Class V Type - III.

How the guideline value of Rajaji Nagar Slum has changed

The guideline value for Rajaji Nagar Slum has undergone several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,000 per sq.ft. The latest revision in 2024 has increased the guideline value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, indicating that the guideline value for Rajaji Nagar Slum is below this median.

• Raja Kiramani Street: Rs 3,300 per sq.ft (2024)
• Raja Kiramani Thottam: Rs 3,300 per sq.ft (2024)
• Raja Muthaiahpuram (Tnscb Fire Proof): Rs 7,700 per sq.ft (2024)
• Raja Colony: Rs 8,800 per sq.ft (2024)
• RAJA ANNAMALAIPURAM EAST (Mandavelipakkam to Circle Road): Rs 17,600 per sq.ft (2024)
• Raja Annamalaipuram 14th Cross Street: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar Slum

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that 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 information.

Which Sub Registrar Office covers Rajaji Nagar Slum?

The Sub Registrar Office that covers Rajaji Nagar Slum is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Nagar Slum?

The current guideline value of Rajaji Nagar Slum is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty rates for properties in Rajaji Nagar Slum?

The stamp duty rate for properties in Rajaji Nagar Slum is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Rajaji Nagar Slum?

The Mylapore Sub Registrar Office handles property registrations in Rajaji Nagar Slum, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values in the area.