Guideline Value for RAJAMBAL STREET

Rajambal Street guideline value

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

How the guideline value of Rajambal Street has changed

Since the 2002 revision, the guideline value for Rajambal Street has seen significant changes. In 2002, the value was Rs 1,287 per sq.ft, which increased to Rs 1,429 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 2,000 per sq.ft in 2007, a substantial jump of 40%. Following this, the value surged to Rs 12,000 per sq.ft in 2012, reflecting a remarkable increase of 500%. However, it dropped to Rs 8,040 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 12,000 per sq.ft in 2023, and finally, it reached Rs 13,200 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 926%. There are no figures available for other revisions for this street.

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 is Rs 11,000 per sq.ft, and Rajambal Street's 2024 figure is above this median.

• Rajamannar 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 Rajambal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, making the total charges Rs 11,88,000. 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 further calculations.

Which Sub Registrar Office covers Rajambal Street?

The Sub Registrar Office that covers Rajambal 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 more information.

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

The guideline value plays a crucial role when buying or selling property in Tnagar. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure that they are complying with the legal requirements during registration.

When a property is registered, the guideline value is taken into account to calculate the applicable charges. It is essential to understand that these charges are based on the guideline value or the sale price, whichever is higher, ensuring that the registration process is transparent and fair.

Frequently asked questions

What is the current guideline value of Rajambal Street?

The current guideline value of Rajambal 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 1,287 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, representing an overall increase of 926% over the years.

What is the land classification for Rajambal Street?

Rajambal Street is classified as Mixed Special Type - II under the land classification system.

Where is the Sub Registrar Office for Rajambal Street located?

The Sub Registrar Office for Rajambal Street is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Rajambal Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000, leading to a stamp duty of Rs 9,24,000.