Guideline Value for RAJAMANNAR STREET

Rajamannar Street guideline value

The current guideline value of Rajamannar Street in Tnagar village, under the Thiyagaraya nagar SRO, is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is classified as Mixed Special Type - II.

How the guideline value of Rajamannar Street has changed

The guideline value for Rajamannar Street has seen significant changes over the years. In 2002, the value was Rs 2,087 per sq.ft, which increased to Rs 2,317 per sq.ft in 2003, marking an 11% rise. Following that, the value increased to Rs 3,000 per sq.ft in 2007, reflecting a 29% growth. The next revision in 2012 brought the value to Rs 12,000 per sq.ft, a substantial increase of 300% from the previous figure.

From 2012, the value dropped to Rs 8,040 per sq.ft in 2017, showing a decrease of 33%. However, the value rebounded to Rs 12,000 per sq.ft in 2023, and then further increased to the current rate of Rs 13,200 per sq.ft in 2024, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 532%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Rajamannar Street above this median.

• Rajambal Street: Rs 13,200 per sq.ft (2024)
• Rajan Street: Rs 13,200 per sq.ft (2024)
• Rajapillai Thottam: Rs 5,500 per sq.ft (2024)
• Raja Street: Rs 14,300 per sq.ft (2024)
• Rajachar Street: Rs 13,200 per sq.ft (2024)
• Rajabathar Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamannar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000. Together, the total cost for these fees would be Rs 11,88,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajamannar Street?

The Sub Registrar Office that covers Rajamannar Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Tnagar. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. It is essential for both buyers and sellers to be aware of this value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Rajamannar Street?

The current guideline value of Rajamannar Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,087 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, marking an overall increase of 532%.

What are the stamp duty and registration fees for property in Rajamannar Street?

For a 1,000 sq.ft property, the total guideline value is Rs 1,32,00,000, with stamp duty at Rs 9,24,000 and registration fees at Rs 2,64,000, totaling Rs 11,88,000.

Which office handles registrations for Rajamannar Street?

The Thiyagaraya nagar Sub Registrar Office handles registrations for Rajamannar Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the guideline value determined for properties in Tnagar?

The guideline value for properties in Tnagar is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values across the area.