Guideline Value for Rajaendra Prasad Street

Rajaendra Prasad Street guideline value

The current guideline value of Rajaendra Prasad Street in Padiyanallur village, under the Redhills SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of Rajaendra Prasad Street has changed

The guideline value for Rajaendra Prasad Street has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure saw a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision marked a return to growth, with the value rising to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 293%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Rajaendra Prasad Street's 2024 figure above that median.

• Radhakrishnan Street: Rs 770 per sq.ft (2024)
• Raja Sethupathi Street: Rs 660 per sq.ft (2024)
• P.T. Moorthy Nagar: Rs 1,320 per sq.ft (2024)
• Pillayar Koil Street (Near Jothi Nagar): Rs 770 per sq.ft (2024)
• Pillayar Koil Street: Rs 1,320 per sq.ft (2024)
• Pillaiar Koil Cross Street (M.A.NAGAR): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaendra Prasad Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty is calculated at 7%, which totals Rs 1,92,500, and the registration fee at 2% amounts to Rs 55,000. Therefore, the total cost for stamp duty and registration fees together is Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajaendra Prasad Street?

The Sub Registrar Office that covers Rajaendra Prasad Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Padiyanallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the market conditions as per the government’s assessment.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures that both buyers and sellers are aware of the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Rajaendra Prasad Street?

The current guideline value of Rajaendra Prasad Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 700 per sq.ft in 2007, increasing to Rs 2,500 per sq.ft in 2012, then decreasing to Rs 1,675 per sq.ft in 2017, and rising again to Rs 2,500 per sq.ft in 2023, with the latest value set at Rs 2,750 per sq.ft in 2024.

What is the land classification of Rajaendra Prasad Street?

Rajaendra Prasad Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, the total stamp duty and registration fees for a 1,000 sq.ft plot at the current guideline value would be Rs 2,47,500.

Which Sub Registrar Office covers Rajaendra Prasad Street?

The Redhills Sub Registrar Office covers Rajaendra Prasad Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.