Guideline Value for RAJU LANE

Raju Lane guideline value

The current guideline value of Raju Lane in Purasaivakkam village, under the Purasaivakkam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Raju Lane has changed

The guideline value for Raju Lane has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. Following this, the value surged to Rs 5,000 per sq.ft in 2023, and then increased to Rs 5,500 per sq.ft in 2024, reflecting a 10% rise.

For the years 2002 and 2003, the register has no figure for Raju Lane. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with the median being Rs 5,500 per sq.ft. Raju Lane's 2024 guideline value aligns with this median.

• Raju Pillai Street: Rs 5,500 per sq.ft (2024)
• Ramanujam Garden Lane: Rs 5,500 per sq.ft (2024)
• Ramanujam Garden Street: Rs 5,500 per sq.ft (2024)
• Rajarathinam Street: Rs 8,800 per sq.ft (2024)
• Ramaswamy Pillai Street: Rs 6,000 per sq.ft (2024)
• Rangaiah Chetty Street: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Raju Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raju Lane?

The Sub Registrar Office covering Raju Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Purasaivakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for valuation. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Raju Lane?

The current guideline value of Raju Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification of Raju Lane?

Raju Lane is classified as Residential Class III Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Raju Lane?

The Sub Registrar Office for Raju Lane is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000.