Guideline Value for Rajabathar Street

Rajabathar Street guideline value

The current guideline value of Rajabathar Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Rajabathar Street has changed

The guideline value for Rajabathar Street has undergone several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a 369% rise. However, from 2012 to 2017, the value decreased to Rs 2,512 per sq.ft, reflecting a 33% drop. The subsequent revision in 2023 brought the value up to Rs 3,750 per sq.ft, a 49% increase from the previous figure. The most recent revision in 2024 set the guideline value at Rs 4,100 per sq.ft, which is a 9% increase from 2023.

The register does not have figures for Rajabathar Street for the years 2002 and 2003.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that Rajabathar Street's 2024 value is below this median.

• Rajagopalan Street Block 35: Rs 6,000 per sq.ft (2024)
• Rajagopal Chetty Street: Rs 6,000 per sq.ft (2024)
• Raghava Reddy Colony West Street (AN): Rs 7,700 per sq.ft (2024)
• Raghava Reddy Colony East Street (AN): Rs 7,700 per sq.ft (2024)
• Raghava Reddy Colony 4th Street (AN): Rs 7,700 per sq.ft (2024)
• Raghava Reddy Colony 3rd Street (AN): Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Rajabathar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, resulting in a total of Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Rajabathar Street?

The Sub Registrar Office that covers Rajabathar Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of a property.

When a property is sold, the guideline value is used to assess the applicable fees, ensuring that the transaction is recorded accurately and in accordance with local regulations. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajabathar Street?

The current guideline value of Rajabathar Street is Rs 4,100 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 4,100 per sq.ft in 2024, showing an overall increase of 413% over the years.

What are the other streets with guideline values in Kodambakkam?

Other streets in Kodambakkam include Rajagopalan Street Block 35 and Rajagopal Chetty Street, both at Rs 6,000 per sq.ft, and several streets in Raghava Reddy Colony at Rs 7,700 per sq.ft.

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

The stamp duty for properties in Rajabathar Street is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,69,000.

Which Sub Registrar Office covers Rajabathar Street?

Rajabathar Street is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.