Guideline Value for RAJENDRA PRASAD STREET

Rajendra Prasad Street guideline value

The current guideline value of Rajendra Prasad Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Ottiyampakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rajendra Prasad Street has changed

The guideline value for Rajendra Prasad Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,206 per sq.ft. However, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the most recent 2024 revision has set it at Rs 1,950 per sq.ft.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023. The 2023 to 2024 revision saw an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median value is Rs 1,950 per sq.ft, which is the same as the guideline value for Rajendra Prasad Street.

• Rajendra Prasad: Rs 1,950 per sq.ft (2024)
• Ramakrishnan Street: Rs 1,950 per sq.ft (2024)
• Reddiyambakkam Main Road: Rs 1,650 per sq.ft (2024)
• Project Aran: Rs 4,000 per sq.ft (2024)
• Ponniamman Koil Street: Rs 1,950 per sq.ft (2024)
• Ponniamman Koil Cross Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendra Prasad Street

For a 1,000 sq.ft plot at the current rate of Rs 1,950 per sq.ft, the guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, totaling Rs 1,75,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajendra Prasad Street?

The Sub Registrar Office that covers Rajendra Prasad Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Ottiyampakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency in the transaction process and helps in determining the appropriate fees involved.

Frequently asked questions

What is the current guideline value of Rajendra Prasad Street?

The current guideline value of Rajendra Prasad Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent increase of 8% from Rs 1,800 per sq.ft in 2023 to Rs 1,950 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 8%.

What are the other streets in Ottiyampakkam with similar guideline values?

Other streets in Ottiyampakkam that share the same guideline value of Rs 1,950 per sq.ft include Ramakrishnan Street, Ponniamman Koil Street, and Ponniamman Koil Cross Street.

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

For a property valued at Rs 19,50,000, the stamp duty would be Rs 1,36,500 and the registration fee would be Rs 39,000, totaling Rs 1,75,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Rajendra Prasad Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles the registration for properties in Rajendra Prasad Street.