Guideline Value for Raja Iyer Street

Raja Iyer Street guideline value

The current guideline value of Raja Iyer Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Raja Iyer Street has changed

The guideline value of Raja Iyer Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 450 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2012 revision, followed by a decrease to Rs 1,005 per sq.ft in 2017. The 2023 revision marked a return to Rs 1,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,600 per sq.ft.

Examining the changes between revisions, the value increased by 233% from 2007 to 2012, then decreased by 33% from 2012 to 2017. From 2017 to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 reflects a substantial increase of 256%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Raja Iyer Street is below this median.

• Rajaji Street: Rs 1,600 per sq.ft (2024)
• Rajammal Duraisamy Street: Rs 1,600 per sq.ft (2024)
• Raja Rao Sahagib Street: Rs 1,600 per sq.ft (2024)
• Raja Rao Street: Rs 1,600 per sq.ft (2024)
• Raja Shaib Rao Street: Rs 1,600 per sq.ft (2024)
• Rajendra Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Iyer Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty, calculated at 7%, would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 details.

Which Sub Registrar Office covers Raja Iyer Street?

The Sub Registrar Office that covers Raja Iyer Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find more information at find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the financial obligations involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Raja Iyer Street?

The current guideline value of Raja Iyer Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 256% over the years.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, while Raja Iyer Street's guideline value is below this median.

What are the stamp duty and registration fees for property in Raja Iyer Street?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles registrations for Raja Iyer Street?

The Selaiyur Sub Registrar Office handles registrations for Raja Iyer Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.