Guideline Value for RAJENDRAN LANE

Rajendran Lane guideline value

The current guideline value of Rajendran Lane in Hastinapuram village, under the Pallavaram SRO, is Rs 2,970 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Rajendran Lane has changed

The guideline value for Rajendran Lane has seen several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was then reduced to Rs 1,809 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value significantly increased to Rs 2,700 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,970 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which is the same as the current guideline value for Rajendran Lane.

• Rajendra Prasad Main Road: Rs 3,850 per sq.ft (2024)
• Rajendra Prasad Road (Part): Rs 3,850 per sq.ft (2024)
• Rajarajeswari Nagar: Rs 2,970 per sq.ft (2024)
• Rajaji Street: Rs 2,970 per sq.ft (2024)
• Ramachandra Street: Rs 4,400 per sq.ft (2024)
• Rajaji Cross Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendran Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. 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 detailed calculations.

Which Sub Registrar Office covers Rajendran Lane?

The Sub Registrar Office covering Rajendran Lane is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property transactions in Hastinapuram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. The guideline value is set by the Registration Department and is periodically revised to reflect market conditions.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration process will require the payment of fees based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Rajendran Lane?

The current guideline value of Rajendran Lane is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then back to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,970 per sq.ft in 2024.

What is the land classification for Rajendran Lane?

Rajendran Lane is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where is the Sub Registrar Office for Rajendran Lane located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Rajendran Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 29,70,000, the stamp duty at 7% would be Rs 2,07,900.