Guideline Value for RAJAJI STREET

Rajaji Street guideline value

The current guideline value of Rajaji Street in Ekkaduthangal village is Rs 4,620 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Rajaji Street has changed

The guideline value for Rajaji Street has seen several revisions over the years. In the 2002 revision, the value was Rs 397 per sq.ft, which increased to Rs 458 per sq.ft in 2003. Following this, the 2007 revision marked a significant rise to Rs 700 per sq.ft, and by 2012, it had increased further to Rs 4,200 per sq.ft. However, in the 2017 revision, the value decreased to Rs 2,814 per sq.ft. The 2023 revision brought the value up to Rs 4,200 per sq.ft, and the latest 2024 revision set it at Rs 4,620 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1,064%. The changes between the revisions are notable, with a 49% increase from 2017 to 2023, and a remarkable 500% increase from 2007 to 2012. The register has no figures for the years not mentioned.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, which is the same as the guideline value for Rajaji Street.

• Rajarajan Street: Rs 5,500 per sq.ft (2024)
• Raghavan Thotam: Rs 3,520 per sq.ft (2024)
• Raja St: Rs 3,080 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 4,620 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 4,620 per sq.ft (2024)
• Poonamallee Road(120 Feet Road West Side): Rs 8,250 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 4,620 per sq.ft, the total guideline value would be Rs 46,20,000. The stamp duty at 7% would amount to Rs 3,23,400, while the registration fee at 2% would be Rs 92,400. Together, these fees would total Rs 4,15,800. 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 further assistance.

Which Sub Registrar Office covers Rajaji Street?

Rajaji Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rajaji Street has increased from Rs 397 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, marking an overall increase of 1,064% over the years.

What is the classification of Rajaji Street?

Rajaji Street is classified as Residential Class II Type - I under the Chennai South Joint I SRO.

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

For a property valued at Rs 46,20,000, the stamp duty would be Rs 3,23,400 and the registration fee would be Rs 92,400, totaling Rs 4,15,800.

Where is the Sub Registrar Office for Rajaji Street located?

The Chennai South Joint I Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.