Guideline Value for RAJESWARI STREET

Rajeswari Street guideline value

The current guideline value of Rajeswari Street in Ramapuram village is Rs 3,100 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Rajeswari Street has changed

The guideline value of Rajeswari Street has seen several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 2,800 per sq.ft in 2012. However, it then decreased to Rs 1,876 per sq.ft in 2017. Following this, the value rose to Rs 2,800 per sq.ft in 2023, before reaching the current value of Rs 3,100 per sq.ft in 2024, marking an increase of 11% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 182%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value among these streets is Rs 3,100 per sq.ft, which is the same as the current guideline value for Rajeswari Street.

• Rajiv Nagar: Rs 2,750 per sq.ft (2024)
• Rajaram Street: Rs 2,750 per sq.ft (2024)
• Rajan Street: Rs 3,100 per sq.ft (2024)
• Ramalingam Street: Rs 2,750 per sq.ft (2024)
• Rajagopal Street: Rs 3,100 per sq.ft (2024)
• Ramapuramgramam: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeswari Street

For a 1,000 sq.ft plot at the current rate of Rs 3,100 per sq.ft, the guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total to Rs 2,79,000. Please 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 Rajeswari Street?

The Sub Registrar Office that covers Rajeswari Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of properties in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established values in the area.

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 and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Rajeswari Street?

The current guideline value of Rajeswari Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 3,100 per sq.ft in 2024, reflecting a significant increase of 182% over this period.

What is the land classification for Rajeswari Street?

Rajeswari Street is classified as Residential Class II Type - I under the Chennai South Joint II SRO.

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

The Sub Registrar Office for Rajeswari Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Ramapuram?

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 31,00,000 would incur a stamp duty of Rs 2,17,000 at 7%.