Guideline Value for Rajaji Cross Street

Rajaji Cross Street guideline value

The current guideline value of Rajaji Cross Street in Hastinapuram village is Rs 2,970 per sq.ft, effective from 1 July 2024. This property falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Rajaji Cross Street has changed

The guideline value for Rajaji Cross Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, it then decreased by 33% to Rs 1,809 per sq.ft in 2017. The value rose to Rs 2,700 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,970 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 324%.

Guideline values in Hastinapuram

In Hastinapuram, 277 streets are listed under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, which is the same as the current value for Rajaji Cross Street.

• Rajabather Street: Rs 1,650 per sq.ft (2024)
• Rajaji Street: Rs 2,970 per sq.ft (2024)
• Rajarajeswari Nagar: Rs 2,970 per sq.ft (2024)
• Raghava Nagar: Rs 2,970 per sq.ft (2024)
• Ragavayar Street: Rs 2,970 per sq.ft (2024)
• Rajendran Lane: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total cost for these fees to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Cross Street?

The Sub Registrar Office that covers Rajaji Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Hastinapuram. It serves as a benchmark for determining the minimum price at which a property can be sold or registered. When a buyer and seller agree on a sale price, the higher of the two values—either the guideline value or the sale price—is used to calculate the applicable stamp duty and registration fees.

This ensures that the government receives the appropriate revenue from property transactions. Buyers should be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Rajaji Cross Street?

The current guideline value of Rajaji Cross Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 324% over the years.

What are the stamp duty and registration fees for properties on Rajaji Cross Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which office handles registrations for Rajaji Cross Street?

The Pallavaram Sub Registrar Office handles registrations for Rajaji Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property transactions and is essential for calculating stamp duty and registration fees. It ensures that the government receives appropriate revenue from property sales.