Guideline Value for RAJAJI STREET (ILANGO NAGAR)

Rajaji Street (Ilango Nagar) guideline value

The current guideline value of Rajaji Street (Ilango Nagar) is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Rajaji Street (Ilango Nagar) has changed

The guideline value for Rajaji Street (Ilango Nagar) has seen several revisions over the years. In 2002, the guideline value was Rs 587 per sq.ft, which increased to Rs 644 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 700 per sq.ft in 2007, reflecting a 9% increase. A significant jump occurred in 2012 when the value reached Rs 3,500 per sq.ft, representing a 400% increase. However, this figure dropped to Rs 2,345 per sq.ft in 2017, indicating a decrease of 33%. The guideline value then increased to Rs 3,500 per sq.ft in 2023, followed by the current value of Rs 3,800 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 547%. It is important to note that there are no figures available for the years not mentioned in the register for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median of Rs 2,700 per sq.ft. The guideline value for Rajaji Street (Ilango Nagar) is above this median.

• Rajangam Street: Rs 2,700 per sq.ft (2024)
• Rajagopal Mudali Street: Rs 3,800 per sq.ft (2024)
• Rajabadar Street: Rs 3,800 per sq.ft (2024)
• Ragavan Street: Rs 3,800 per sq.ft (2024)
• Rajeswari Street: Rs 4,300 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street (Ilango Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, the total charges would be Rs 3,42,000. 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 accurate calculations based on your specific property transaction.

Which Sub Registrar Office covers Rajaji Street (Ilango Nagar)?

The Sub Registrar Office that covers Rajaji Street (Ilango Nagar) is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

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

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Street (Ilango Nagar)?

The current guideline value of Rajaji Street (Ilango Nagar) is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 587 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 547% over the years.

What are the registration and stamp duty fees for property in Rajaji Street (Ilango Nagar)?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which Sub Registrar Office covers this area?

The Purasaivakkam Sub Registrar Office covers Rajaji Street (Ilango Nagar), located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Rajaji Street (Ilango Nagar)?

The land classification for Rajaji Street (Ilango Nagar) is Residential Class II Type - II.