Guideline Value for RajaThottam 2nd street

RajaThottam 2nd street guideline value

The current guideline value of RajaThottam 2nd street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class IV Type - I.

How the guideline value of RajaThottam 2nd street has changed

The guideline value for RajaThottam 2nd street has undergone several revisions over the years. In 2007, the value was set at Rs 800 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure saw a decrease of 33% to Rs 1,675 per sq.ft in 2017. The value then rose sharply to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision, marking an 8% increase from the previous year. The register has no figure for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 238%. The significant changes include a remarkable rise of 213% from 2007 to 2012, followed by a 49% increase from 2017 to 2023. The fluctuations in the guideline value reflect various adjustments made over the years.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value for these streets is Rs 4,800 per sq.ft, indicating that RajaThottam 2nd street's 2024 figure is below this median.

• RajaThottam 1st street: Rs 2,700 per sq.ft (2024)
• RajaThottam 3rd street: Rs 2,700 per sq.ft (2024)
• Rama naicken street: Rs 4,800 per sq.ft (2024)
• Ramasamy street: Rs 4,800 per sq.ft (2024)
• Pulianthope High Road: Rs 8,800 per sq.ft (2024)
• Pulianthope 6th cross street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in RajaThottam 2nd street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers RajaThottam 2nd street?

The Sub Registrar Office that covers RajaThottam 2nd street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Vepery. It is used as a benchmark to determine the stamp duty and registration fees when a property is bought or sold. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When selling a property, the seller should also consider the guideline value, as it can impact the overall transaction. Accurate knowledge of the guideline value ensures that both buyers and sellers are informed and can make better decisions regarding their property transactions.

Frequently asked questions

What is the current guideline value of RajaThottam 2nd street?

The current guideline value of RajaThottam 2nd street is Rs 2,700 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 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 238% over this period.

What is the land classification of RajaThottam 2nd street?

RajaThottam 2nd street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total costs would amount to Rs 2,43,000.

Where can I find the Sub Registrar Office for RajaThottam 2nd street?

The Sub Registrar Office for RajaThottam 2nd street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.