Guideline Value for Raja Lane

Raja Lane guideline value

The current guideline value of Raja Lane is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Raja Lane has changed

The guideline value for Raja Lane has seen revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 4,500 per sq.ft. The latest revision in 2024 shows an increase to Rs 4,950 per sq.ft, marking a change of +10% from the 2012 figure.

There have been no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street in the guideline value register.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value across these streets is Rs 4,400 per sq.ft, positioning Raja Lane's 2024 figure above the median.

• Rajalakshmi Nagar 9th Cross Street (100 ft. Bye-Pass Road): Rs 13,200 per sq.ft (2024)
• Rajalakshmi Nagar 8th Cross Street: Rs 4,400 per sq.ft (2024)
• Rajalakshmi Nagar 7th Cross Street (Facing 100 Ft. Bye-Pass Road): Rs 13,200 per sq.ft (2024)
• Rajalakshmi Nagar 7th Cross Street: Rs 13,200 per sq.ft (2024)
• Rajalakshmi Nagar 6th Cross Street: Rs 4,400 per sq.ft (2024)
• Rajalakshmi Nagar 5th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Lane?

The Sub Registrar Office covering Raja Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Raja Lane?

The current guideline value of Raja Lane is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Raja Lane was Rs 4,500 per sq.ft in 2012 and increased to Rs 4,950 per sq.ft in 2024, showing a change of +10%. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification for Raja Lane?

Raja Lane is classified as Residential Class II Type - I, which influences its guideline value and potential uses.

What are the stamp duty rates in Velachery?

The stamp duty rate in Velachery is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Raja Lane?

The Sub Registrar Office for Raja Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.