Guideline Value for Raja Garden 2nd Street

Raja Garden 2nd Street guideline value

The current guideline value of Raja Garden 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Raja Garden 2nd Street has changed

The guideline value for Raja Garden 2nd Street has seen several revisions over the years. In 2002, the value was Rs 510 per sq.ft, which increased to Rs 606 per sq.ft in 2003. Following this, there was a significant rise to Rs 2,000 per sq.ft in 2007, and then it increased to Rs 3,500 per sq.ft in 2012. However, the value dropped to Rs 2,345 per sq.ft in 2017. The guideline value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024.

Between the revisions, the changes are as follows: from 2002 to 2003, there was an increase of 19%. The value then surged by 230% from 2003 to 2007. Afterward, there was a 75% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and finally, there was an 11% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 665%.

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 value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Raja Garden 2nd Street.

• Raja Garden 1st 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 2nd 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, while the registration fee at 2% would be Rs 78,000. Together, these fees would total 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Raja Garden 2nd Street?

The Sub Registrar Office that covers Raja Garden 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is registered, the guideline value is compared with the actual sale price. The higher value between the two is used to determine the applicable stamp duty. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Raja Garden 2nd Street?

The current guideline value of Raja Garden 2nd 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 changed several times, starting from Rs 510 per sq.ft in 2002 to the current value of Rs 3,900 per sq.ft in 2024. There have been fluctuations, including a decrease from 2012 to 2017, but overall, the value has increased significantly over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Raja Garden 2nd Street?

The Sub Registrar Office for Raja Garden 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the guideline value determined for properties in Kottivakkam?

The guideline value is determined by the Registration Department's guideline value register, which is updated periodically to reflect changes in property values. It serves as a reference point for calculating stamp duty and registration fees during property transactions.