Guideline Value for RAJAN AVENUE

Rajan Avenue guideline value

The current guideline value of Rajan Avenue, located in Vengathur village under the Manavalanagar SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Rajan Avenue has changed

The guideline value for Rajan Avenue has seen several revisions over the years. In 2007, the value was set at Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012, marking a remarkable increase of 767%. However, from 2012 to 2017, the value decreased to Rs 871 per sq.ft, a decline of 33%. The value then rose again to Rs 1,300 per sq.ft in 2023, and it remained unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 1,300 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 767%. The register does not have figures for the years 2002 and 2003 for this street.

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 for these streets is Rs 1,000 per sq.ft, placing Rajan Avenue's 2024 figure above this median.

• Rajaji Street: Rs 1,300 per sq.ft (2024)
• Rajeshwari Nagar: Rs 1,300 per sq.ft (2024)
• Ragavendra Street: Rs 1,300 per sq.ft (2024)
• Rajivgandhi Street: Rs 1,300 per sq.ft (2024)
• Ramaswamy Street: Rs 800 per sq.ft (2024)
• Poonthaleer Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total 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, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajan Avenue?

The Sub Registrar Office that covers Rajan Avenue 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vengathur. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the correct amount based on the property's assessed value.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are recorded accurately and that the government receives its due revenue from property sales.

Frequently asked questions

What is the current guideline value of Rajan Avenue?

The current guideline value of Rajan Avenue 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 changed several times, with significant increases and decreases. It started at Rs 150 per sq.ft in 2007, rose to Rs 1,300 per sq.ft in 2012, dropped to Rs 871 per sq.ft in 2017, and returned to Rs 1,300 per sq.ft in 2023 and 2024.

What is the land classification for Rajan Avenue?

The land classification for Rajan Avenue is Commercial Class I Type - III, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Rajan Avenue?

The Sub Registrar Office covering Rajan Avenue is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for property in Rajan Avenue?

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 the current guideline value, the stamp duty would amount to Rs 91,000.