Guideline Value for RajaThottam 3rd street

RajaThottam 3rd street guideline value

The current guideline value of RajaThottam 3rd street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class IV Type - I.

How the guideline value of RajaThottam 3rd street has changed

The guideline value for RajaThottam 3rd street has seen several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which was a significant increase from the previous years, although the register has no figure for the years 2002 and 2003. By 2012, the value rose to Rs 2,500 per sq.ft, but this represented a decrease of 33% from the 2017 revision, which increased the value to Rs 1,675 per sq.ft.

In 2023, the guideline value was updated to Rs 2,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,700 per sq.ft, marking an 8% increase. Overall, from 2007 to 2024, the guideline value has increased by 238%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO, with 2024 guideline values 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, placing the guideline value of RajaThottam 3rd street below this median.

• RajaThottam 2nd street: Rs 2,700 per sq.ft (2024)
• RajaThottam 1st 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 3rd street

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

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers RajaThottam 3rd street?

The Sub Registrar Office that covers RajaThottam 3rd 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 Vepery

The guideline value is a critical factor in the registration process when buying or selling property in Vepery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the higher of the guideline value or the sale price is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of RajaThottam 3rd street?

The current guideline value of RajaThottam 3rd 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 from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 238% over the years.

What is the classification of land in RajaThottam 3rd street?

RajaThottam 3rd street is classified as Residential Class IV Type - I.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for RajaThottam 3rd street located?

The Sub Registrar Office for RajaThottam 3rd street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.