Guideline Value for RAJAJI STREET (WARD -8)

Rajaji Street (Ward -8) guideline value

The current guideline value of Rajaji Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls 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 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision raised it further to Rs 1,320 per sq.ft. The changes between these revisions include a 10% increase from 2023 to 2024 and a significant 49% increase from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for Rajaji Street in the revisions for the years 2002, 2003, and 2007.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Rajaji Street (Ward -8) above this median with its current value of Rs 1,320 per sq.ft.

• 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 661 per sq.ft (2024)
• Rail Nagar 9nd Street (Ward -2): Rs 661 per sq.ft (2024)
• Rail Nagar 8nd Street (Ward -2): Rs 661 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for stamp duty and registration fee would be Rs 1,18,800. 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 that covers Rajaji Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Panangottur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. This value ensures that the transaction is recorded accurately and reflects the official valuation of the property.

When a buyer or seller engages in a property transaction, the guideline value serves as a benchmark for the sale price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead. This helps maintain transparency and fairness in property transactions.

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 1,320 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 recent increase being from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, which is a 10% increase. The value also saw a significant rise from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023.

What is the median guideline value in Panangottur?

The median guideline value for streets in Panangottur is Rs 990 per sq.ft. Rajaji Street (Ward -8) has a guideline value above this median.

What are the stamp duty and registration fees for Rajaji Street (Ward -8)?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Rajaji Street (Ward -8)?

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