Guideline Value for RAJAJI STREET (WARD -8)

Rajaji Street (Ward -8) guideline value

The current guideline value of Rajaji Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Rajaji Street (Ward -8) has changed

The guideline value for Rajaji Street (Ward -8) has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was set at Rs 1,200 per sq.ft. This figure then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and it further rose to Rs 1,321 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figure for this street in the years 2002, 2003, and 2007.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values for 2024 ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for the village is Rs 1,100 per sq.ft, placing Rajaji Street's current value above this median.

• Rajaji Street (Ward -17): Rs 660 per sq.ft (2024)
• Rajam Street (Ward -19): Rs 660 per sq.ft (2024)
• Raja Annamalai Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Rail Nagar (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar Part -I: Rs 1,100 per sq.ft (2024)
• Rail Nagar 9nd Street (Ward -2): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty, charged at 7%, would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, leading to a total of Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Street (Ward -8)?

The Sub Registrar Office covering Rajaji Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which properties must be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the buyer should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that both parties are protected in the transaction, and the appropriate fees are collected by the authorities.

Frequently asked questions

What is the current guideline value of Rajaji Street (Ward -8)?

The current guideline value of Rajaji Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification for Rajaji Street (Ward -8)?

Rajaji Street (Ward -8) is classified as Residential Special Type - V.

Where can I find the Sub Registrar Office for Rajaji Street (Ward -8)?

The Sub Registrar Office for Rajaji Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the stamp duty rate for property transactions in Rajaji Street (Ward -8)?

The stamp duty for property transactions in Rajaji Street (Ward -8) is charged at 7% of the guideline value or the sale price, whichever is higher.