Guideline Value for Raja Koil Street (Ward 6)

Raja Koil Street (Ward 6) guideline value

The current guideline value of Raja Koil Street (Ward 6) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Tharapakkam village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Raja Koil Street (Ward 6) has changed

The guideline value of Raja Koil Street has seen several revisions over the years. In the 2017 revision, the guideline value was Rs 670 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Tharapakkam

In Tharapakkam, there are 47 streets under the Pammal SRO that carry a guideline value for 2024, ranging from Rs 880 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which is the same as that of Raja Koil Street (Ward 6).

• Raja Koil Street (ward 9): Rs 1,100 per sq.ft (2024)
• R.G.M Nagar: Rs 1,100 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,100 per sq.ft (2024)
• Perumal Koil Street: Rs 1,100 per sq.ft (2024)
• Selva Ganapathy Nagar: Rs 1,100 per sq.ft (2024)
• Shobanam Enclave: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Koil Street (Ward 6)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Raja Koil Street (Ward 6)?

The Sub Registrar Office that covers Raja Koil Street (Ward 6) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential reference for property transactions in Tharapakkam. It serves as a basis for calculating stamp duty and registration fees during the registration of property transactions. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning.

When a property is sold, the guideline value is used to determine the applicable taxes and fees. It is crucial for both parties in a transaction to understand that the stamp duty is charged based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Raja Koil Street (Ward 6)?

The current guideline value of Raja Koil Street (Ward 6) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64%. The value rose from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase.

What is the land classification for Raja Koil Street (Ward 6)?

Raja Koil Street (Ward 6) is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000. This is based on the current guideline value of Rs 1,100 per sq.ft.

Where can I find the Sub Registrar Office for Raja Koil Street (Ward 6)?

The Sub Registrar Office for Raja Koil Street (Ward 6) is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details by visiting the appropriate link.