Guideline Value for Raja Garden 1st Street

Raja Garden 1st Street guideline value

The current guideline value of Raja Garden 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village and falls under the Adayar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Raja Garden 1st Street has changed

The guideline value for Raja Garden 1st Street has undergone several revisions over the years. Starting from the 2003 revision, the guideline value was Rs 606 per sq.ft. It increased significantly to Rs 2,000 per sq.ft in 2007, marking a 230% rise. In 2012, the value remained at Rs 3,500 per sq.ft, but then decreased to Rs 2,345 per sq.ft in 2017, reflecting a 33% drop. The 2023 revision saw an increase to Rs 3,500 per sq.ft, followed by a further increase to the current rate of Rs 3,900 per sq.ft in 2024, which is an 11% rise.

Overall, from 2003 to 2024, the guideline value has increased by 544%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current figure for Raja Garden 1st Street.

• Raja Garden 2nd Street: Rs 3,900 per sq.ft (2024)
• Raja Garden 3rd Street: Rs 3,900 per sq.ft (2024)
• Raja Garden Main Road: Rs 3,900 per sq.ft (2024)
• Puratchi Thalaivi Nagar Main Road: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar 9th Street: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar 8th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Garden 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Raja Garden 1st Street?

The Sub Registrar Office that covers Raja Garden 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. 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 Raja Garden 1st Street?

The current guideline value of Raja Garden 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 606 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 544% over this period.

What is the land classification for Raja Garden 1st Street?

The land classification for Raja Garden 1st Street is Residential Class II Type - I.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Kottivakkam?

Stamp duty for properties in Kottivakkam is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.