Guideline Value for RajaRathinam Street

RajaRathinam Street guideline value

The current guideline value of RajaRathinam Street is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, and it falls under the Mixed Type - I land classification.

How the guideline value of RajaRathinam Street has changed

The guideline value for RajaRathinam Street has seen significant changes over the years. In the 2002 revision, the value was Rs 1,786 per sq.ft. This increased to Rs 1,969 per sq.ft in 2003, marking a 10% rise. The value continued to climb, reaching Rs 3,000 per sq.ft in 2007, which was a 52% increase from the previous revision. The guideline value then surged to Rs 12,300 per sq.ft in 2012, reflecting a substantial 310% increase from 2007. However, it decreased to Rs 8,241 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the value rose significantly to Rs 12,300 per sq.ft, indicating a 49% increase. The most recent revision in 2024 set the guideline value at Rs 13,400 per sq.ft, a 9% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 650%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 7,100 per sq.ft, placing RajaRathinam Street's 2024 figure above this median.

• Rajammal Street: Rs 3,400 per sq.ft (2024)
• Rajammal Lane: Rs 3,400 per sq.ft (2024)
• RamaChandra Road: Rs 13,500 per sq.ft (2024)
• Ramanathan chetty street: Rs 11,000 per sq.ft (2024)
• Ramanathan salai: Rs 13,400 per sq.ft (2024)
• Pumping Station road: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in RajaRathinam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,400 per sq.ft, the total guideline value amounts to Rs 1,34,00,000. The stamp duty at 7% would be Rs 9,38,000, while the registration fee at 2% would be Rs 2,68,000, bringing the total charges to Rs 12,06,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers RajaRathinam Street?

The Sub Registrar Office that covers RajaRathinam Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Egmore. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the fees are based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it affects the total cost of the transaction. Understanding the guideline value can help in budgeting for these additional costs when planning to buy or sell property in the area.

Frequently asked questions

What is the current guideline value of RajaRathinam Street?

The current guideline value of RajaRathinam Street is Rs 13,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,786 per sq.ft in 2002 to Rs 13,400 per sq.ft in 2024, reflecting an overall increase of 650% over this period.

What is the land classification of RajaRathinam Street?

RajaRathinam Street falls under the Mixed Type - I land classification.

What are the other streets in Egmore with their guideline values?

Other streets in Egmore include Rajammal Street and Rajammal Lane at Rs 3,400 per sq.ft, RamaChandra Road at Rs 13,500 per sq.ft, Ramanathan chetty street at Rs 11,000 per sq.ft, and Ramanathan salai at Rs 13,400 per sq.ft.

Where is the Sub Registrar Office for RajaRathinam Street located?

The Sub Registrar Office for RajaRathinam Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.