Guideline Value for RAJAJI STREET

Rajaji Street guideline value

The current guideline value of Rajaji Street in Arasankalani village is Rs 1,300 per sq.ft, effective from the 2024 revision. This street falls under the Selaiyur SRO and is classified as Residential Class III Type - I.

How the guideline value of Rajaji Street has changed

The guideline value for Rajaji Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 804 per sq.ft. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and currently stands at Rs 1,300 per sq.ft from the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO with 2024 guideline values ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median value among these streets is Rs 2,100 per sq.ft, placing Rajaji Street's 2024 figure below this median.

• Rajiv Nagar: Rs 1,900 per sq.ft (2024)
• Renugambal Nagar: Rs 2,100 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,300 per sq.ft (2024)
• Perumbakkam Salai Street: Rs 2,100 per sq.ft (2024)
• Perumbakkam Koil Street: Rs 2,100 per sq.ft (2024)
• Perumal Nagar Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajaji Street?

The Sub Registrar Office that covers Rajaji Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Arasankalani

The guideline value is a crucial factor in property transactions in Arasankalani, as it determines the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence negotiations and the overall cost of the transaction. Buyers should ensure that the sale price aligns with or exceeds the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 1,300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What are the stamp duty and registration fees for properties on Rajaji Street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles the registration for Rajaji Street?

The Selaiyur Sub Registrar Office is responsible for handling registrations for Rajaji Street, located in East Tambaram, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating stamp duty and registration fees during property transactions.