Guideline Value for RAJAJI STREET NO.1

Rajaji Street No.1 guideline value

The current guideline value of Rajaji Street No.1 is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Natham village, under the Chengleput Joint II SRO, with a land classification of Mixed Special Type - I.

How the guideline value of Rajaji Street No.1 has changed

The guideline value for Rajaji Street No.1 has seen several revisions over the years. The oldest recorded figure is from 2012, which was Rs 5,000 per sq.ft. In 2017, the value decreased to Rs 3,350 per sq.ft, marking a decline of 33%. However, by 2023, the value increased to Rs 5,000 per sq.ft, and in the latest revision for 2024, it rose to Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, positioning Rajaji Street No.1 above this median value.

• Railway Colony: Rs 2,200 per sq.ft (2024)
• Pramanar Street: Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,650 per sq.ft (2024)
• Ryder Sabapathi Street: Rs 1,650 per sq.ft (2024)
• Periyar Street (Periyar Chetty Street): Rs 3,850 per sq.ft (2024)
• Periya Rathinam Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street No.1

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty is charged at 7%, totaling Rs 3,85,000, while the registration fee is 2%, amounting to Rs 1,10,000. The combined total for these fees is Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajaji Street No.1?

Rajaji Street No.1 falls under the jurisdiction of 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 further assistance.

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

The guideline value plays a crucial role during property transactions in Chengalpattu Natham. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value ensures that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value is also significant as it helps establish a baseline for the sale price. Buyers and sellers often refer to the guideline value to negotiate terms and understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Rajaji Street No.1?

The current guideline value of Rajaji Street No.1 is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 5,500 per sq.ft in 2024, with notable fluctuations in between, including a decrease in 2017 and increases in subsequent years.

What is the median guideline value in Chengalpattu Natham?

The median guideline value in Chengalpattu Natham is Rs 2,200 per sq.ft, with Rajaji Street No.1's value being above this median.

What fees are associated with buying property in Rajaji Street No.1?

When buying property in Rajaji Street No.1, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajaji Street No.1?

The Chengleput Joint II Sub Registrar Office, which covers Rajaji Street No.1, is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.