Guideline Value for RAJU PILLAI STREET

Raju Pillai Street guideline value

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

How the guideline value of Raju Pillai Street has changed

In the 2007 revision, the guideline value was Rs 1,800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking an increase of 178%. However, in the 2017 revision, the value decreased to Rs 3,350 per sq.ft, which was a drop of 33%. The 2023 revision saw the value rise again to Rs 5,000 per sq.ft, and the most recent 2024 revision has set it at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 206%. The changes between the revisions illustrate the fluctuations in the guideline value over the years, with the most significant increase occurring between 2007 and 2012.

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. The median guideline value is Rs 5,500 per sq.ft, which is the same as the 2024 figure for Raju Pillai Street.

• Raju Lane: 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 Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be 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, bringing the total to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raju Pillai Street?

The Sub Registrar Office that covers Raju Pillai Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value is referred to ensure that the correct fees are calculated based on the property's value. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Raju Pillai Street?

The current guideline value of Raju Pillai Street 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 seen several changes, starting from Rs 1,800 per sq.ft in 2007, increasing to Rs 5,000 in 2012, dropping to Rs 3,350 in 2017, and then rising to Rs 5,000 in 2023 before reaching Rs 5,500 in 2024.

What are the other streets in Purasaivakkam with the same guideline value?

Other streets in Purasaivakkam with the same guideline value of Rs 5,500 per sq.ft in 2024 include Raju Lane, Ramanujam Garden Lane, and Ramanujam Garden Street.

What is the stamp duty for property in Raju Pillai Street?

The stamp duty for property in Raju Pillai Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this would amount to Rs 3,85,000 based on the current guideline value.

Where is the Sub Registrar Office for Raju Pillai Street located?

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