Guideline Value for RAJAJI STREET

Rajaji Street guideline value

The current guideline value of Rajaji Street in Vilingiyambakkam village, under the Avadi SRO, is Rs 935 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Rajaji Street has changed

The guideline value for Rajaji Street has seen significant changes over the years. In the 2003 revision, the value was Rs 198 per sq.ft, which increased to Rs 350 per sq.ft in 2007. Following this, the 2012 revision set the value at Rs 850 per sq.ft, but it dropped to Rs 569 per sq.ft in 2017. The value then rose sharply to Rs 850 per sq.ft in 2023, and most recently, it has increased to Rs 935 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 372%. The register does not contain figures for the year 2002 for Rajaji Street.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft. The median value is Rs 935 per sq.ft, which is equal to the current guideline value of Rajaji Street.

• Rajaji St (West): Rs 800 per sq.ft (2024)
• Rajamanna St: Rs 935 per sq.ft (2024)
• Rajan St: Rs 935 per sq.ft (2024)
• Raja Durai St: Rs 810 per sq.ft (2024)
• Railway Line Street: Rs 1,310 per sq.ft (2024)
• Railway Line Southern Side Streets: Rs 1,310 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 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty at 7% would amount to Rs 65,450, and the registration fee at 2% would be Rs 18,700, bringing the total cost for these fees to Rs 84,150. It is important to note that the 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 Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vilingiyambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees required for the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. Understanding this value ensures that all legal and financial obligations are met during the registration process.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 198 per sq.ft in 2003 to Rs 935 per sq.ft in 2024, representing an overall increase of 372% since 2003.

What is the land classification for Rajaji Street?

Rajaji Street is classified as Residential Class II Type - II, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Rajaji Street?

The Avadi Sub Registrar Office covers Rajaji Street and is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties on Rajaji Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 9,35,000, the stamp duty would be Rs 65,450 at 7%.