Guideline Value for RAJANGAM STREET

Rajangam Street guideline value

The current guideline value of Rajangam Street in Perambur village, under the Purasaivakkam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - II.

How the guideline value of Rajangam Street has changed

The guideline value for Rajangam Street has seen several revisions over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003, marking a 10% increase. By 2007, the value surged to Rs 550 per sq.ft, reflecting a 49% rise. The 2012 revision maintained the value at Rs 2,500 per sq.ft, which remained unchanged until the 2023 revision, where it again stood at Rs 2,500 per sq.ft. The most recent revision in 2024 has set the value at Rs 2,700 per sq.ft, indicating an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 704%. Notably, there is no figure available for Rajangam Street in the 2017 revision.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the current guideline value of Rajangam Street.

• Rajaji Street (Ilango Nagar): Rs 3,800 per sq.ft (2024)
• Rajagopal Mudali Street: Rs 3,800 per sq.ft (2024)
• Rajabadar Street: Rs 3,800 per sq.ft (2024)
• Rajeswari Street: Rs 4,300 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 3,200 per sq.ft (2024)
• Rajiv Gandhi Nagar Hut Area: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajangam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajangam Street?

Rajangam Street is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Rajangam Street?

The current guideline value of Rajangam Street is Rs 2,700 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 336 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 704% over the years.

What is the land classification of Rajangam Street?

Rajangam Street is classified as Residential Class III Type - II.

Where can I find the registration office for Rajangam Street?

The registration office that covers Rajangam Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at a rate of 7%.