Guideline Value for Raj Street

Raj Street guideline value

The current guideline value of Raj Street in Pammal village is Rs 1,760 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class III Type - II.

How the guideline value of Raj Street has changed

The guideline value of Raj Street has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 143 per sq.ft. This increased to Rs 162 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 260 per sq.ft in 2007, which was a 60% increase from the previous revision. Following that, the 2017 revision saw a substantial jump to Rs 1,072 per sq.ft, reflecting a 312% increase. The 2023 revision set the value at Rs 1,600 per sq.ft, a 49% increase from 2017. The current 2024 revision has further increased the value to Rs 1,760 per sq.ft, which is a 10% rise from the previous year.

It is important to note that there is no figure available for Raj Street in the 2012 revision.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Raj Street's 2024 guideline value below this median.

• Ramadass Street/ Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Ramadass Street, Gandhi Nagar Extn: Rs 2,475 per sq.ft (2024)
• Ramadevi Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Rajiv Gandhi Street / Eswaran Nagar: Rs 2,750 per sq.ft (2024)
• Ramadoss Street, Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Ramakrishna Iyer Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Raj Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total cost for these fees Rs 1,58,400. It is important to note that the 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 more details.

Which Sub Registrar Office covers Raj Street?

The Sub Registrar Office that covers Raj Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is used to ensure that the taxes are calculated fairly based on the property's assessed value.

When a buyer or seller approaches the registration office, the guideline value is referenced to calculate the applicable fees. It is essential for both parties to be aware of the current guideline value to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Raj Street?

The current guideline value of Raj Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Raj Street has increased from Rs 143 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 1,131% over this period.

What are the stamp duty and registration fees for properties in Raj Street?

For a property valued at Rs 17,60,000, the stamp duty at 7% is Rs 1,23,200, and the registration fee at 2% is Rs 35,200, totaling Rs 1,58,400 in fees.

Which Sub Registrar Office covers Raj Street?

The Pammal Sub Registrar Office covers Raj Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

What is the land classification of Raj Street?

Raj Street is classified as Residential Class III Type - II, which indicates its designation for residential purposes within the Pammal SRO.