Guideline Value for RAJAJI STREET (WARD -8)

Rajaji Street (Ward -8) guideline value

The current guideline value for Rajaji Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this area is 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 since 2012. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. However, the value saw a significant increase in the following revisions, reaching Rs 1,200 per sq.ft in 2023 and then rising to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49% in the guideline value. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Rajaji Street (Ward -8) above this median with its 2024 figure of Rs 1,320 per sq.ft.

• Rajaji Street (Ward -17): Rs 661 per sq.ft (2024)
• Rajam Street (Ward -19): Rs 661 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 9nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar 8nd 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees together Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

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

Rajaji Street (Ward -8) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process of property transactions in Peramanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this valuation.

When buying or selling property, the guideline value must be taken into account, as it can affect the overall costs involved in the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, but the higher of the two will be used to calculate the applicable duties and fees.

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 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 1,320 per sq.ft in 2024.

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

The land classification for Rajaji Street (Ward -8) is Residential Special Type - V.

Where can I find the registration office for Rajaji Street (Ward -8)?

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

How is the stamp duty calculated for properties in Rajaji Street (Ward -8)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 92,400.