Guideline Value for Rajabathar Street

Rajabathar Street guideline value

The current guideline value of Rajabathar Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Rajabathar Street has changed

The guideline value of Rajabathar Street has undergone several revisions over the years. In 2002, the guideline value was Rs 150 per sq.ft, which increased to Rs 171 per sq.ft in 2003. Following this, there was a significant rise to Rs 650 per sq.ft in 2007, and then it jumped to Rs 3,500 per sq.ft in 2012. However, the value decreased to Rs 2,345 per sq.ft in 2017 before rising to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase has been +2500%. The revision from 2017 to 2023 saw an increase of +49%, while the jump from 2007 to 2012 was a decrease of -33%. The most notable increase occurred from 2007 to 2012, which was +438%, and from 2003 to 2007, which was +280%. The change from 2023 to 2024 is +11%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft, with the median being Rs 3,900 per sq.ft. Rajabathar Street's 2024 figure is equal to this median.

• Railway Station Road: Rs 5,000 per sq.ft (2024)
• Railway Station Lane: Rs 5,000 per sq.ft (2024)
• Railway Lane East Side: Rs 3,900 per sq.ft (2024)
• Railway Colony Main: Rs 3,900 per sq.ft (2024)
• Railway Colony 5th Street: Rs 3,900 per sq.ft (2024)
• Railway Colony 5th Layout: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rajabathar Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajabathar Street?

The Sub Registrar Office covering Rajabathar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to avoid any legal issues during the transaction.

Frequently asked questions

What is the current guideline value of Rajabathar Street?

The current guideline value of Rajabathar Street is Rs 3,900 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 150 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of +2500%.

What is the registration office for Rajabathar Street?

The registration office for Rajabathar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties on Rajabathar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000.

What is the land classification for Rajabathar Street?

Rajabathar Street is classified as Residential Class I Type - III, indicating its designation for residential purposes within the Alandur SRO.