Guideline Value for RAJARAJAN STREET

Rajarajan Street guideline value

The current guideline value of Rajarajan Street in Ekkaduthangal village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Special Type - I.

How the guideline value of Rajarajan Street has changed

The guideline value for Rajarajan Street has undergone several revisions over the years. In 2002, the value was Rs 635 per sq.ft, which increased to Rs 732 per sq.ft in 2003. The following revisions saw significant changes, with the value rising to Rs 1,000 per sq.ft in 2007, and then jumping to Rs 5,000 per sq.ft in 2012. However, there was a notable decrease to Rs 3,350 per sq.ft in 2017. The value was then revised to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was an increase of 15%; from 2003 to 2007, the value rose by 37%; in 2007 to 2012, it increased by 400%; however, from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 766%.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, placing Rajarajan Street's 2024 guideline value above this median.

• Raja St: Rs 3,080 per sq.ft (2024)
• Rajaji Street: Rs 4,620 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 4,620 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 4,620 per sq.ft (2024)
• Raghavan Thotam: Rs 3,520 per sq.ft (2024)
• Poonamallee Road(120 Feet Road West Side): Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. 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 Rajarajan Street?

The Sub Registrar Office that covers Rajarajan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Ekkaduthangal. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees. Buyers and sellers must consider this value when negotiating property prices to ensure compliance with registration requirements.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is lower than the guideline value, the stamp duty is calculated based on the guideline value to ensure that the government receives the appropriate revenue from the transaction.

Frequently asked questions

What is the current guideline value of Rajarajan Street?

The current guideline value of Rajarajan Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 635 in 2002 to Rs 5,500 in 2024, with various increases and one decrease recorded in the intervening years.

What is the land classification of Rajarajan Street?

Rajarajan Street is classified as Residential Special Type - I under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for properties in Rajarajan Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Rajarajan Street?

The Chennai South Joint I Sub Registrar Office covers Rajarajan Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.