Guideline Value for RAZAK GARDEN III RD STREET

Razak Garden III Rd Street guideline value

The current guideline value of Razak Garden III Rd Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - II.

How the guideline value of Razak Garden III Rd Street has changed

The guideline value for Razak Garden III Rd Street has seen several revisions over the years. From the 2007 revision, which was Rs 1,250 per sq.ft, the value increased significantly to Rs 5,500 per sq.ft in 2012, marking a rise of 340%. However, it then decreased to Rs 3,685 per sq.ft in 2017, a decline of 33%. The value rebounded to Rs 5,500 per sq.ft in 2023, and subsequently increased to the current rate of Rs 6,000 per sq.ft in 2024, reflecting a 9% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 380%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value is Rs 6,000 per sq.ft, which is the same as the current value for Razak Garden III Rd Street.

• Razak Garden Avenue: Rs 6,000 per sq.ft (2024)
• Razak Garden II Nd Street: Rs 6,000 per sq.ft (2024)
• Razak Garden I St Street: Rs 6,000 per sq.ft (2024)
• Razack Garden Street: Rs 6,000 per sq.ft (2024)
• Razak Garden IV Th Street: Rs 6,000 per sq.ft (2024)
• Razak Garden Main Road: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Razak Garden III Rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, resulting in a total of Rs 5,40,000. 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 Razak Garden III Rd Street?

The Sub Registrar Office covering Razak Garden III Rd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is in compliance with local regulations. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Razak Garden III Rd Street?

The current guideline value for Razak Garden III Rd Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,250 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 380% over the years.

What is the land classification for Razak Garden III Rd Street?

The land classification for Razak Garden III Rd Street is Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the registration office for this area?

The registration office for Razak Garden III Rd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 60,00,000, the total stamp duty and registration fees would amount to Rs 5,40,000.