Guideline Value for Raja Street 6th Lane

Raja Street 6th Lane guideline value

The current guideline value of Raja Street 6th 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 6th Lane has changed

The guideline value for Raja Street 6th Lane has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 300 per sq.ft. This increased to Rs 397 per sq.ft in 2003, marking a change of +32%. A significant rise occurred between 2007 and 2012, where the value jumped to Rs 800 per sq.ft in 2007 and then to Rs 3,500 per sq.ft in 2012, resulting in an increase of +338%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a change of -33%. The guideline value then increased to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,850 per sq.ft in 2024, which is a rise of +10%.

Overall, from the initial value in 2002 to the current value in 2024, the guideline value has increased by +1183%. The register has no figures for the years not mentioned in the revisions.

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 current guideline value of Raja Street 6th Lane.

• Raja Street 5th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 7th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 4th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 8th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 3rd Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 9th Lane: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Street 6th 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, totaling 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 also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Raja Street 6th Lane?

The Sub Registrar Office that covers Raja Street 6th 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 further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are recorded fairly and transparently.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Raja Street 6th Lane?

The current guideline value of Raja Street 6th 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 significantly from Rs 300 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, with various revisions in between.

What are the stamp duty and registration fees for property in Raja Street 6th Lane?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 3,46,500.

Which Sub Registrar Office covers Raja Street 6th Lane?

The Chennai South Joint II Sub Registrar Office covers Raja Street 6th Lane, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Raja Street 6th Lane?

The land classification for Raja Street 6th Lane is Residential Class II Type - I.