Guideline Value for Raja Street 10th Lane

Raja Street 10th Lane guideline value

The current guideline value of Raja Street 10th Lane in Parangimalai village is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Raja Street 10th Lane has changed

Over the years, the guideline value for Raja Street 10th Lane has seen significant changes. The 2002 revision recorded a guideline value of Rs 300 per sq.ft. This increased to Rs 397 per sq.ft in 2003, marking a rise of 32%. The value further increased by 102% to Rs 800 per sq.ft in 2007. However, the 2012 revision saw a decrease to Rs 3,500 per sq.ft, reflecting a drop of 33%. By 2017, the value rebounded to Rs 2,345 per sq.ft, followed by a substantial increase to Rs 3,500 per sq.ft in 2023, and finally reaching Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2002 to 2024, the guideline value has risen by 1,183%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value is Rs 3,850 per sq.ft, which is equal to the 2024 figure for Raja Street 10th Lane.

• Raja Street 1st Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 2nd Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 3rd Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 4th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 5th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 6th Lane: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Street 10th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Therefore, the total cost for stamp duty and registration would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Street 10th Lane?

The Sub Registrar Office that covers Raja Street 10th Lane is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is officially recorded and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Raja Street 10th Lane?

The current guideline value of Raja Street 10th Lane is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 300 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024. Notable changes include a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023.

What is the land classification for Raja Street 10th Lane?

Raja Street 10th Lane is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Raja Street 10th Lane?

The Sub Registrar Office for Raja Street 10th Lane is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,46,500.