Guideline Value for Raja Rao Street

Raja Rao Street guideline value

The current guideline value of Raja Rao Street in Selaiyur village, under the Selaiyur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Raja Rao Street has changed

The guideline value for Raja Rao Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it was decreased to Rs 1,005 per sq.ft. However, the value rose significantly to Rs 1,500 per sq.ft in the 2023 revision and further increased to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. The most significant change occurred between the 2017 and 2023 revisions, where the value increased by 49%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Raja Rao Street's current value is below the median.

• Raja Rao Sahagib 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)
• Rajammal Duraisamy Street: Rs 1,600 per sq.ft (2024)
• Rajeswari Nagar: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Dhanalakshmi Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Rao Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty 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 guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raja Rao Street?

The Sub Registrar Office that covers Raja Rao 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 your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Selaiyur. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the government receives the correct revenue based on the property's assessed value.

When buying or selling property, the guideline value serves as a reference point for both parties. It is essential for buyers to be aware of the current guideline value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Raja Rao Street?

The current guideline value of Raja Rao 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 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Raja Rao Street?

Raja Rao Street is classified as Residential Class II Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Raja Rao Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,12,000.