Guideline Value for Raja Garden 3rd Street

Raja Garden 3rd Street guideline value

The current guideline value of Raja Garden 3rd 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 3rd Street has changed

The guideline value for Raja Garden 3rd Street has seen several revisions over the years. In 2002, the guideline value was Rs 510 per sq.ft. This increased to Rs 606 per sq.ft in 2003, marking a 19% rise. The value experienced significant growth, reaching Rs 2,000 per sq.ft in 2007, which was a 230% increase. Following this, the value rose to Rs 3,500 per sq.ft in 2012, reflecting a 75% increase from the previous revision. However, it decreased to Rs 2,345 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value increased significantly to Rs 3,500 per sq.ft, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, an increase of 11% from the previous year. 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 is Rs 3,900 per sq.ft, which is equal to the guideline value of Raja Garden 3rd Street.

• Raja Garden 2nd Street: Rs 3,900 per sq.ft (2024)
• Raja Garden Main Road: Rs 3,900 per sq.ft (2024)
• Raja Garden 1st Street: 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the 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, bringing the total to Rs 3,51,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raja Garden 3rd Street?

The Sub Registrar Office covering Raja Garden 3rd 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 when buying or selling property in Kottivakkam. It serves as a benchmark for determining the minimum value at which property transactions are registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Raja Garden 3rd Street?

The current guideline value of Raja Garden 3rd 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 significantly, increasing from Rs 510 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, which is an overall increase of 665%.

What is the land classification for Raja Garden 3rd Street?

The land classification for Raja Garden 3rd Street is Residential Class II Type - I.

Where is the Adayar Sub Registrar Office located?

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 is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000.