Guideline Value for RAJU MAIN ROAD

Raju Main Road guideline value

The current guideline value of Raju Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Okkiyamthuraipakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Raju Main Road has changed

The guideline value for Raju Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which decreased to Rs 2,680 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value significantly increased by 49% to reach Rs 4,000 per sq.ft, and then further rose by 10% in the 2024 revision to the current value of Rs 4,400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This reflects the changes in the property landscape in the area over the years.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Raju Main Road above this median with its current value of Rs 4,400 per sq.ft.

• Raju 7 Th Street: Rs 3,900 per sq.ft (2024)
• Raju Nagar I: Rs 3,900 per sq.ft (2024)
• Raju 6 Th Street: Rs 3,900 per sq.ft (2024)
• Raju Nagar II: Rs 3,900 per sq.ft (2024)
• Raju 5 Th Street: Rs 3,900 per sq.ft (2024)
• Raju 4 Th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Raju Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these charges to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Raju Main Road?

The Sub Registrar Office that covers Raju Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering a property in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of these values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Raju Main Road?

The current guideline value of Raju Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Raju Main Road?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Raju Main Road?

The Neelankarai Sub Registrar Office covers Raju Main Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value determined for properties in Okkiyamthuraipakkam?

The guideline value is determined by the Registration Department and is based on various factors including land classification and location. It is updated periodically to reflect changes in the property market.