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 Sattamangalam 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

Over the years, the guideline value for Rajaji Street has seen several revisions. 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. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a 49% rise. The most recent 2024 revision has further increased the guideline value to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

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

Guideline values in Sattamangalam

In Sattamangalam, there are 425 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 guideline value in this village is Rs 1,100 per sq.ft, placing Rajaji Street (Ward -8) 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 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 would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges 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 more detailed calculations, you can use the stamp duty and registration fee calculator.

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, 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 Sattamangalam

The guideline value is a crucial factor when registering property transactions in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from 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 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 median guideline value for streets in Sattamangalam?

The median guideline value for streets in Sattamangalam is Rs 1,100 per sq.ft, with Rajaji Street (Ward -8) being above this median at Rs 1,320 per sq.ft.

What are the stamp duty rates for properties in Rajaji Street (Ward -8)?

The stamp duty rate for properties in Rajaji Street (Ward -8) is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the same amount.

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

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