Guideline Value for RAZAK GARDEN V TH STREET

Razak Garden V Th Street guideline value

The current guideline value of Razak Garden V 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 the land classification is Residential Special Type - II.

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

In the 2007 revision, the guideline value was Rs 1,250 per sq.ft. This figure saw a significant increase to Rs 5,500 per sq.ft in the 2012 revision, marking a rise of 340%. However, in the 2017 revision, the value decreased to Rs 3,685 per sq.ft, reflecting a drop of 33%. The value then increased substantially to Rs 5,500 per sq.ft in the 2023 revision, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 6,000 per sq.ft, a 9% increase from the previous year.

The register has no figure for Razak Garden V Th Street for the years 2002 and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 380%.

Guideline values in Arumbakkam

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

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

Stamp duty and registration fee for property in Razak Garden V 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 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, bringing the total to Rs 5,40,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Razak Garden V Th Street?

The Sub Registrar Office that covers Razak Garden V 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 of property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the transaction reflects the appropriate taxes. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

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

The current guideline value of Razak Garden V Th 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%.

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

The land classification for Razak Garden V Th Street is Residential Special Type - II.

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

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

What is the stamp duty for a property in Razak Garden V Th Street?

The stamp duty for a property in Razak Garden V Th Street is 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would amount to Rs 4,20,000 based on the current guideline value.