Guideline Value for Raja Street 3rd Lane

Raja Street 3rd Lane guideline value

The current guideline value of Raja Street 3rd Lane is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Raja Street 3rd Lane has changed

The guideline value for Raja Street 3rd Lane has seen several revisions over the years. In 2002, the guideline value was Rs 300 per sq.ft, which increased to Rs 397 per sq.ft in 2003, marking a change of +32%. By 2007, the value rose significantly to Rs 800 per sq.ft, reflecting an increase of +102%. The value then jumped to Rs 3,500 per sq.ft in 2012, which was a notable rise of +338%. However, by 2017, the value decreased to Rs 2,345 per sq.ft, showing a decline of -33%. The guideline value then increased to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,850 per sq.ft in 2024, which is a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +1183%. The register has no figures for the years not listed in this article.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO with 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 current guideline value of Raja Street 3rd 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 10th 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 3rd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raja Street 3rd Lane?

The Sub Registrar Office that covers Raja Street 3rd 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 information.

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, as it determines the minimum value at which a property can be registered. It ensures that the government receives appropriate revenue through stamp duty and registration fees based on this value.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

Frequently asked questions

What is the current guideline value of Raja Street 3rd Lane?

The current guideline value of Raja Street 3rd 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 changed from Rs 300 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, showing an overall increase of +1183% over the years.

What is the land classification for Raja Street 3rd Lane?

The land classification for Raja Street 3rd Lane is Residential Class II Type - I.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Raja Street 3rd Lane is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Raja Street 3rd Lane?

The Sub Registrar Office for Raja Street 3rd Lane is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.