Guideline Value for Raja Garden Main Road

Raja Garden Main Road guideline value

The current guideline value of Raja Garden Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

Over the years, the guideline value of Raja Garden Main Road has seen significant changes. The earliest available figure is from 2002, which was Rs 510 per sq.ft. This increased to Rs 606 per sq.ft in 2003, marking a 19% rise. Following this, the value surged by 230% to Rs 2,000 per sq.ft in 2007. In 2012, the value adjusted to Rs 3,500 per sq.ft, reflecting a 75% increase. However, it dropped by 33% to Rs 2,345 per sq.ft in 2017. The value then rose sharply to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 665%. The register has no figure for the years not mentioned in this summary.

Guideline values in Kottivakkam

Kottivakkam has 284 streets under the Adayar SRO with a 2024 guideline value range 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 matches the current value for Raja Garden Main Road.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total fees Rs 3,51,000. 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 Main Road?

The Sub Registrar Office that covers Raja Garden Main Road 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 minimum value of a property for registration purposes, ensuring that properties are registered at a value that reflects the current market conditions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Raja Garden Main Road?

The current guideline value of Raja Garden Main Road 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 from Rs 510 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 665% over this period.

What are the stamp duty and registration fees for properties on Raja Garden Main Road?

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.

Which office handles property registrations in Kottivakkam?

The Adayar Sub Registrar Office handles property registrations in Kottivakkam, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Raja Garden Main Road?

Raja Garden Main Road is classified as Residential Class II Type - I, indicating its suitability for residential development.