Guideline Value for RAJAN STREET

Rajan Street guideline value

The current guideline value of Rajan Street in Tnagar village, under the Thiyagaraya nagar SRO, is Rs 13,200 per sq.ft, effective from 1 July 2024. The land classification for this street is Mixed Special Type - II.

How the guideline value of Rajan Street has changed

The guideline value for Rajan Street has seen significant changes over the years. In the 2003 revision, the value was Rs 1,000 per sq.ft. This increased to Rs 2,000 per sq.ft in 2007, marking a 100% rise. The 2012 revision saw the value drop to Rs 12,000 per sq.ft, a decrease of 500% from the previous figure. However, in 2017, the value rose to Rs 8,040 per sq.ft, which was a 33% decline from the 2012 figure. Following this, the 2023 revision set the guideline value at Rs 12,000 per sq.ft, reflecting a 49% increase from 2017. The most recent revision in 2024 has further increased the value to Rs 13,200 per sq.ft, which is a 10% rise from the previous year.

It is important to note that there is no figure available for Rajan Street in the 2002 revision.

Guideline values in Tnagar

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

• Rajapillai Thottam: Rs 5,500 per sq.ft (2024)
• Rajambal Street: Rs 13,200 per sq.ft (2024)
• Rajamannar Street: Rs 13,200 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 Rajan 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, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees to 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 more details.

Which Sub Registrar Office covers Rajan Street?

The Sub Registrar Office that covers Rajan 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 is a crucial factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives appropriate revenue from the transaction. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property deals.

Frequently asked questions

What is the current guideline value of Rajan Street?

The current guideline value of Rajan 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 from Rs 1,000 per sq.ft in 2003 to Rs 13,200 per sq.ft in 2024, reflecting significant fluctuations over the years.

What is the land classification for Rajan Street?

The land classification for Rajan Street is Mixed Special Type - II.

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

The Sub Registrar Office covering Rajan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. It is important to consider the guideline value when determining the total fees for property transactions.