Guideline Value for Raja Garden Road

Raja Garden Road guideline value

The current guideline value of Raja Garden Road is Rs 3,301 per sq.ft, effective from 1 July 2024. This road is located in Peravallur village under the Sembiam Sub Registrar Office (SRO) and is classified as Residential Special Type - II.

How the guideline value of Raja Garden Road has changed

The guideline value for Raja Garden Road has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,000 per sq.ft. It increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The 2023 revision saw a substantial increase to Rs 3,000 per sq.ft, followed by a further rise to Rs 3,301 per sq.ft in 2024, which is a 10% increase.

In summary, from the 2017 revision to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 value, there has been a total increase of 230%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the guideline value of Raja Garden Road.

• Raja Garden Main Road: Rs 3,301 per sq.ft (2024)
• Rajabhadar Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Raghavan Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Ragavendra Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Ragavan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Rajini Raja Koil Street (Jawahar Nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Garden Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raja Garden Road?

The Sub Registrar Office covering Raja Garden Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Raja Garden Road?

The current guideline value of Raja Garden Road is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the stamp duty rates applicable for property in Raja Garden Road?

The stamp duty rate for property transactions in Raja Garden Road is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Raja Garden Road?

The Sembiam Sub Registrar Office handles property registrations for Raja Garden Road, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value for streets in Peravallur?

The median guideline value for streets in Peravallur is Rs 3,301 per sq.ft, which is the same as the guideline value for Raja Garden Road.