Guideline Value for RAJAJI STREET

Rajaji Street guideline value

The current guideline value of Rajaji Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street 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 undergone several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which saw a decrease to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then further rose to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The revision from 2017 to 2023 marked a substantial increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The guidelines from the years 2002, 2003, and 2007 do not have figures recorded for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as that of Rajaji Street.

• Rajaji Street Amaravathi Nagar: Rs 2,200 per sq.ft (2024)
• Rajammal Nagar: Rs 2,750 per sq.ft (2024)
• Rajaganapathy Nagar: Rs 1,320 per sq.ft (2024)
• Ragavendrhra Colony: Rs 1,650 per sq.ft (2024)
• Rajathi Street: Rs 2,200 per sq.ft (2024)
• Ragavendra Colony Main Road: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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 further assistance.

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

The guideline value plays a crucial role in the registration process of properties in Jelandianpettai. It determines the minimum price at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs in the property transaction process. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for 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?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total charges would be Rs 1,98,000.

Which office handles property registrations for Rajaji Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Rajaji Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.