Guideline Value for Raja Shaib Rao Street

Raja Shaib Rao Street guideline value

The current guideline value of Raja Shaib Rao 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 Shaib Rao Street has changed

The guideline value for Raja Shaib Rao Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 450 per sq.ft. This value increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 233%. However, it saw a decrease to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, and most recently to Rs 1,600 per sq.ft in 2024, reflecting an increase of 7%.

There are no recorded figures for Raja Shaib Rao Street in the revisions of 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 256%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which means that Raja Shaib Rao Street's 2024 guideline value is below the median.

• Raja Rao Street: Rs 1,600 per sq.ft (2024)
• Raja Rao Sahagib 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 Shaib 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 would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Please 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 Shaib Rao Street?

The Sub Registrar Office that covers Raja Shaib 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 is a crucial factor in property transactions in Selaiyur. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value serves as a benchmark for the transaction. This ensures that the property is assessed fairly for taxation purposes, and it helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Raja Shaib Rao Street?

The current guideline value of Raja Shaib 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 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 registration office for Raja Shaib Rao Street?

The registration office for Raja Shaib 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.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 16,00,000, the total fees would amount to Rs 1,44,000.

What is the land classification of Raja Shaib Rao Street?

Raja Shaib Rao Street is classified as Residential Class II Type - II, indicating its suitability for residential development.