Guideline Value for RAZAK GARDEN IV TH STREET

Razak Garden IV Th Street guideline value

The current guideline value of Razak Garden IV Th Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of Razak Garden IV Th Street has changed

Over the years, the guideline value of Razak Garden IV Th Street has seen several revisions. The earliest recorded value was Rs 1,250 per sq.ft in 2007. This increased significantly to Rs 5,500 per sq.ft in 2012, followed by a decrease to Rs 3,685 per sq.ft in 2017. The value then rose sharply to Rs 5,500 per sq.ft in 2023, and most recently, it has reached Rs 6,000 per sq.ft in the 2024 revision.

From 2007 to 2012, the value increased by 340%. However, from 2012 to 2017, there was a decline of 33%. The value then saw a substantial increase of 49% from 2017 to 2023, followed by a 9% rise from 2023 to 2024. Overall, the guideline value has increased by 380% from 2007 to 2024.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, which is equal to the current value of Razak Garden IV Th Street.

• Razak Garden I St Street: Rs 6,000 per sq.ft (2024)
• Razak Garden Main Road: Rs 8,200 per sq.ft (2024)
• Razak Garden II Nd Street: Rs 6,000 per sq.ft (2024)
• Razak Garden VI Th Street: Rs 6,000 per sq.ft (2024)
• Razak Garden III Rd Street: Rs 6,000 per sq.ft (2024)
• Razak Garden V Th Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Razak Garden IV Th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, while 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.

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

Which Sub Registrar Office covers Razak Garden IV Th Street?

The Sub Registrar Office that covers Razak Garden IV Th 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 plays a crucial role in the registration process of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which must be paid at the time of registration to complete the transaction legally.

Frequently asked questions

What is the current guideline value of Razak Garden IV Th Street?

The current guideline value of Razak Garden IV Th Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How much 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% during this period.

What is the land classification for Razak Garden IV Th Street?

Razak Garden IV Th Street is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Razak Garden IV Th Street?

The Kodambakkam Sub Registrar Office covers Razak Garden IV Th Street and is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Razak Garden IV Th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 at a rate of 7%.