Guideline Value for RAJU 1 ST STREET

Raju 1 St Street guideline value

The current guideline value of Raju 1 St Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Raju 1 St Street has changed

Over the years, the guideline value for Raju 1 St Street has undergone several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 3,500 per sq.ft. The most recent revision in 2024 saw the guideline value rise to Rs 3,900 per sq.ft, marking an 11% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Raju 1 St Street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, making Raju 1 St Street's 2024 figure of Rs 3,900 per sq.ft higher than the median.

• Raju 2 Nd Street: Rs 3,900 per sq.ft (2024)
• Raju 3 Rd Street: Rs 3,900 per sq.ft (2024)
• Raju 4 Th Street: Rs 3,900 per sq.ft (2024)
• Raju 5 Th Street: Rs 3,900 per sq.ft (2024)
• Raju 6 Th Street: Rs 3,900 per sq.ft (2024)
• Raju 7 Th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Raju 1 St Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raju 1 St Street?

The Sub Registrar Office that covers Raju 1 St Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the fees are calculated based on an official valuation rather than arbitrary amounts.

When selling property, the guideline value can also influence the sale price, as it provides a benchmark for both buyers and sellers. Understanding the guideline value is essential for anyone looking to navigate the property market in this area.

Frequently asked questions

What is the current guideline value of Raju 1 St Street?

The current guideline value of Raju 1 St Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, an increase of 11%. It was Rs 2,345 per sq.ft in 2017, which means it increased by 49% to reach Rs 3,500 per sq.ft in 2023.

What is the land classification for Raju 1 St Street?

Raju 1 St Street falls under the Residential Class I Type - II land classification. This classification is important for understanding the usage and regulations applicable to the property.

What are the registration fees for property in Raju 1 St Street?

The registration fees for a property in Raju 1 St Street are calculated based on the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,51,000, including stamp duty and registration fees.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. This office handles the registration of properties in the area.