Guideline Value for RAJI STREET / RAJI NAICKAN STREET

Raji Street / Raji Naickan Street guideline value

The current guideline value for Raji Street / Raji Naickan Street in Chinnasekkadu village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Raji Street / Raji Naickan Street has changed

The guideline value for Raji Street / Raji Naickan Street has seen several revisions over the years. In 2002, the guideline value was Rs 157 per sq.ft, which increased to Rs 182 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, and then to Rs 1,200 per sq.ft in 2012. However, there was a decrease to Rs 804 per sq.ft in 2017. The value then increased to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft from the 2024 revision.

Between the revisions, notable changes include an increase of 8% from 2023 to 2024, a significant rise of 49% from 2017 to 2023, a decrease of 33% from 2012 to 2017, and a remarkable increase of 140% from 2007 to 2012. Overall, from 2002 to 2024, the guideline value has increased by 728%.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Raji Street / Raji Naickan Street is above this median.

• Ramalingaswamy Koil Street: Rs 1,001 per sq.ft (2024)
• Raghavan Street: Rs 1,300 per sq.ft (2024)
• Radha Street/Nagar: Rs 1,001 per sq.ft (2024)
• Rathinam Street: Rs 1,000 per sq.ft (2024)
• Puddhapiran Street: Rs 1,300 per sq.ft (2024)
• Ponnuswamy Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Raji Street / Raji Naickan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raji Street / Raji Naickan Street?

The Sub Registrar Office that covers Raji Street / Raji Naickan Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Chinnasekkadu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or purchased, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in the official register. This process helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value for Raji Street / Raji Naickan Street?

The current guideline value for Raji Street / Raji Naickan Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 157 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 728%.

What is the registration office for Raji Street / Raji Naickan Street?

The registration office for Raji Street / Raji Naickan Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Chinnasekkadu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.

What are the other streets in Chinnasekkadu with their guideline values?

Other streets in Chinnasekkadu include Ramalingaswamy Koil Street at Rs 1,001 per sq.ft, Raghavan Street at Rs 1,300 per sq.ft, and several others, with values ranging from Rs 1,000 to Rs 2,200 per sq.ft.