Guideline Value for Rajagobal Street

Rajagobal Street guideline value

The current guideline value of Rajagobal Street in Konnur village, under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Rajagobal Street has changed

The guideline value for Rajagobal Street has seen several revisions over the years. In 2002, the value was Rs 373 per sq.ft, which increased to Rs 405 per sq.ft in 2003. The following revisions showed a significant rise, with the value reaching Rs 800 per sq.ft in 2007, and then jumping to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017 before increasing again to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 3,800 per sq.ft.

Between the revisions, the changes were notable. From 2002 to 2003, the increase was +9%. The value surged by +98% from 2003 to 2007, followed by a substantial rise of +338% from 2007 to 2012. However, the value decreased by -33% from 2012 to 2017. The value then saw an increase of +49% from 2017 to 2023, and finally, a rise of +9% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +919%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value is Rs 3,800 per sq.ft, which is the same as the current guideline value for Rajagobal Street.

• Railway Station Road: Rs 7,100 per sq.ft (2024)
• Rajaji Nagar 1st Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 2nd Street.: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 3rd Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 4th Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 5th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajagobal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000. Together, these fees total Rs 3,42,000. 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 Rajagobal Street?

The Konnur Sub Registrar Office covers Rajagobal Street. The office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, within the Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Konnur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives the appropriate revenue based on the established guideline values.

When selling property, the guideline value also serves as a benchmark for the sale price. It helps in maintaining transparency in property transactions, ensuring that both buyers and sellers are aware of the official valuation of the property.

Frequently asked questions

What is the current guideline value of Rajagobal Street?

The current guideline value of Rajagobal Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 373 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, marking an overall increase of +919%.

What is the land classification for Rajagobal Street?

Rajagobal Street falls under the Residential Class II Type - I land classification.

What are the stamp duty and registration fees for property on Rajagobal Street?

The stamp duty 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 3,42,000.

Where is the Sub Registrar Office for Rajagobal Street located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.