Guideline Value for RAJAM STREET (WARD -19)

Rajam Street (Ward -19) guideline value

The current guideline value of Rajam Street (Ward -19) is Rs 661 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

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

Over the years, the guideline value for Rajam Street has seen several revisions. In the 2012 revision, the value was set at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and further rose to Rs 661 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

When we look at the changes, the value increased by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a 10% increase.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Rajam Street's 2024 figure below that median.

• Rajaji Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Rajaji Street (Ward -17): Rs 661 per sq.ft (2024)
• Raja Annamalai Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Rail Nagar (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar 9nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rajiv Gandhi Nagar Rail Nagar (Ward -2): Rs 661 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 rate of Rs 661 per sq.ft, the guideline value would be Rs 6,61,000. The stamp duty at 7% would amount to Rs 46,270, and the registration fee at 2% would be Rs 13,220, totaling Rs 59,490. 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 information.

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 details.

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

The guideline value is a crucial factor in the registration of property transactions in Peramanoor. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property for both the buyer and seller. It ensures transparency and consistency in property transactions, making it easier for all parties involved to understand the financial implications of the sale.

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 661 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 back to Rs 600 per sq.ft in 2023, and finally to Rs 661 per sq.ft in 2024.

What is the land classification for Rajam Street (Ward -19)?

Rajam Street (Ward -19) is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Rajam Street (Ward -19)?

The Sub Registrar Office for Rajam Street (Ward -19) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Rajam Street (Ward -19)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,61,000, the stamp duty would be Rs 46,270.