Guideline Value for RAJU STREET

Raju Street guideline value

The current guideline value of Raju Street in Thiruvanmiyur village is Rs 7,160 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Raju Street has changed

In the 2012 revision, the guideline value was set at Rs 6,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 4,355 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 6,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 7,160 per sq.ft in the 2024 revision, reflecting a 10% rise.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2017 revision did not have a figure for Raju Street in the register, nor did the revisions for 2002, 2003, and 2007.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, which means that Raju Street's 2024 guideline value is below this median.

• Raji Street: Rs 9,900 per sq.ft (2024)
• Rajeswari Nagar: Rs 3,520 per sq.ft (2024)
• Ramalinga Nagar: Rs 9,900 per sq.ft (2024)
• Rajasrinivasa Nagar: Rs 9,900 per sq.ft (2024)
• Raja Rangasamy Avenue: Rs 7,160 per sq.ft (2024)
• Rajaji Nagar Main Road: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Raju Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,160 per sq.ft, the total guideline value would be Rs 71,60,000. The stamp duty at 7% would be Rs 5,01,200, and the registration fee at 2% would be Rs 1,43,200, making the total cost Rs 6,44,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Raju Street?

The Sub Registrar Office that covers Raju Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher, thus influencing the total expenditure involved in the property transfer.

Frequently asked questions

What is the current guideline value of Raju Street?

The current guideline value of Raju Street is Rs 7,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Raju Street has seen several changes, from Rs 6,500 per sq.ft in 2012, dropping to Rs 4,355 per sq.ft in 2017, then rising to Rs 6,500 per sq.ft in 2023, and finally reaching Rs 7,160 per sq.ft in 2024.

What is the land classification for Raju Street?

Raju Street is classified as Residential Class III Type - I, indicating its designation for residential purposes within the area.

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

The Sub Registrar Office for Raju Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Raju Street?

Stamp duty for properties in Raju Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 5,01,200 at a rate of 7%.