Guideline Value for Raj Street

Raj Street guideline value

The current guideline value of Raj Street in Uthiramerur village, under the Uthiramerur SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Raj Street has changed

Looking at the historical revisions, the guideline value for Raj Street has undergone several changes. In 2007, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it decreased to Rs 469 per sq.ft in 2017. The value then remained unchanged at Rs 700 per sq.ft from 2017 through the 2023 revision and continues at the same rate in 2024.

From 2017 to 2023, there was a 49% increase, while the change from 2012 to 2017 represented a decrease of 33%. The rise from 2007 to 2012 was a substantial 600%. Overall, from 2007 to 2024, the guideline value has increased by 600%. The register has no figures for Raj Street for the years 2002 and 2003.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO that carry a guideline value for 2024, ranging from Rs 200 to Rs 1,800 per sq.ft. The median value is Rs 800 per sq.ft, making Raj Street's current guideline value below this median.

• Ramji Ragar: Rs 700 per sq.ft (2024)
• Rayar Street: Rs 1,500 per sq.ft (2024)
• Risarve Kulam Street: Rs 1,000 per sq.ft (2024)
• Raice Mill sandhu: Rs 900 per sq.ft (2024)
• Ragavendra Nagar: Rs 300 per sq.ft (2024)
• RagavaNattan Street: Rs 1,200 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 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. 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 Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for further information.

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

The guideline value plays a crucial role during property transactions in Uthiramerur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This value is set by the Registration Department and is regularly revised to reflect changes in the real estate market.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Raj Street?

The current guideline value of Raj Street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant increase occurring from Rs 100 per sq.ft in 2007 to Rs 700 per sq.ft in 2012. It remained at Rs 700 per sq.ft from 2012 to 2017, decreased to Rs 469 per sq.ft in 2017, and has since remained unchanged.

What is the land classification of Raj Street?

Raj Street is classified as Residential Class III Type - I. This classification is important for determining the usage and development potential of the land.

What are the stamp duty rates for properties in Raj Street?

The stamp duty rate for properties in Raj Street is 7%. This is applied to the higher of the guideline value or the sale price during property registration.

Where can I find the Uthiramerur Sub Registrar Office?

The Uthiramerur Sub Registrar Office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can visit this office for property registration and related services.