Guideline Value for RAJAJI STREET

Rajaji Street guideline value

The current guideline value of Rajaji Street in Vengathur village, under the Manavalanagar SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - III.

How the guideline value of Rajaji Street has changed

In the 2007 revision, the guideline value was Rs 150 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in the 2012 revision, marking a change of +767%. The value then decreased to Rs 871 per sq.ft in the 2017 revision, which was a -33% change from the previous figure. The 2023 revision maintained the value at Rs 1,300 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

The register has no figures for the years 2002 and 2003 for Rajaji Street. Overall, from 2007 to 2024, the guideline value has increased by +767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, placing Rajaji Street's 2024 figure above this median.

• Rajan Avenue: Rs 1,300 per sq.ft (2024)
• Ragavendra Street: Rs 1,300 per sq.ft (2024)
• Rajeshwari Nagar: Rs 1,300 per sq.ft (2024)
• Rajivgandhi Street: Rs 1,300 per sq.ft (2024)
• Poonthaleer Street: Rs 1,300 per sq.ft (2024)
• POONAMALLEE THIRUVALLUR SALAI (KOSASTHALAI RIVER OVERHEAD BRIDGE to NDP KALYANA MANDABAM): Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Vengathur, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is lower than the guideline value, the duty is charged based on the higher of the two figures, ensuring that the government receives the appropriate revenue from property transactions.

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 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most significant increase from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012. The value remained at Rs 1,300 per sq.ft in the 2023 and 2024 revisions.

What is the land classification of Rajaji Street?

Rajaji Street is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

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

The Sub Registrar Office for Rajaji Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for properties on Rajaji Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.