Guideline Value for ROJA STREET (SENTHAMIZH NAGAR)

Roja Street (Senthamizh Nagar) guideline value

The current guideline value of Roja Street (Senthamizh Nagar) is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Roja Street (Senthamizh Nagar) has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure then decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 2,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Roja Street (Senthamizh Nagar). Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam village, there are 379 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Roja Street (Senthamizh Nagar) above this median.

• Royal Garden: Rs 2,200 per sq.ft (2024)
• Sabari Nagar: Rs 2,200 per sq.ft (2024)
• Ravi Street: Rs 1,870 per sq.ft (2024)
• Sagadevan Street: Rs 2,200 per sq.ft (2024)
• Sai Garden: Rs 3,300 per sq.ft (2024)
• Rangathanpuram Kulasekara Alwar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Roja Street (Senthamizh Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. 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 Roja Street (Senthamizh Nagar)?

The Sub Registrar Office that covers Roja Street (Senthamizh Nagar) 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 Medavakkam

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

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Roja Street (Senthamizh Nagar)?

The current guideline value of Roja Street (Senthamizh Nagar) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Roja Street (Senthamizh Nagar)?

The land classification for Roja Street (Senthamizh Nagar) is Commercial Class I Type - III.

Where can I find the Sub Registrar Office for Roja Street (Senthamizh Nagar)?

The Sub Registrar Office for Roja Street (Senthamizh Nagar) 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.

How is the stamp duty calculated for properties in Roja Street (Senthamizh Nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.