Guideline Value for Raja Street Main

Raja Street Main guideline value

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

How the guideline value of Raja Street Main has changed

The guideline value for Raja Street Main has seen several revisions over the years. In 2002, the value was Rs 300 per sq.ft, which increased to Rs 397 per sq.ft in 2003, marking a change of +32%. The value continued to rise significantly, reaching Rs 800 per sq.ft in 2007, a notable increase of +102%. However, from 2007 to 2012, the value decreased to Rs 3,500 per sq.ft, a decline of -33%. The following revision in 2017 saw the value increase to Rs 2,345 per sq.ft, a rise of +49% from the previous figure.

In 2023, the guideline value was set at Rs 3,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 3,850 per sq.ft, reflecting an increase of +10%. Overall, from 2002 to 2024, the guideline value has increased by +1183%.

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 the same as the guideline value for Raja Street Main.

• Raja Street 9th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 8th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 7th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 6th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 5th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 4th Lane: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Street Main

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 cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Street Main?

The Sub Registrar Office that covers Raja Street Main 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 in the registration process of property transactions in Parangimalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Raja Street Main?

The current guideline value of Raja Street Main 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 seen significant changes, increasing from Rs 300 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of +1183%.

What is the land classification for Raja Street Main?

Raja Street Main is classified as Residential Class II Type - I under the Chennai South Joint II SRO.

What are the stamp duty and registration fees for properties in Raja Street Main?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000, leading to a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Raja Street Main located?

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