Guideline Value for RAJAM STREET (WARD -19)

Rajam Street (Ward -19) guideline value

The current guideline value of Rajam Street (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Rajam Street (Ward -19) has changed

The guideline value for Rajam Street has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the most recent 2024 revision raised it further to Rs 660 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 990 per sq.ft, placing Rajam Street's 2024 figure below this median.

• Rajaji Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Rajaji Street (Ward -17): Rs 660 per sq.ft (2024)
• Raja Annamalai Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Rail Nagar (Ward -2): Rs 661 per sq.ft (2024)
• Rail Nagar 9nd Street (Ward -2): Rs 661 per sq.ft (2024)
• Rajiv Gandhi Nagar Rail Nagar (Ward -2): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Rajam Street (Ward -19)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total cost for these fees Rs 59,400. 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 detailed calculations.

Which Sub Registrar Office covers Rajam Street (Ward -19)?

The Sub Registrar Office that covers Rajam Street (Ward -19) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential reference for property transactions in Panangottur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajam Street (Ward -19)?

The current guideline value of Rajam Street (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Rajam Street?

Rajam Street is classified as Residential Class I Type - III under the Chengleput Joint II SRO.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Where is the Sub Registrar Office for Rajam Street located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.