Guideline Value for Rajaji Street

Rajaji Street guideline value

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

How the guideline value of Rajaji Street has changed

Over the years, the guideline value of Rajaji Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 700 per sq.ft, which increased dramatically to Rs 2,700 per sq.ft in 2012, marking a rise of 286%. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, reflecting a drop of 33%. The value then surged to Rs 2,700 per sq.ft in 2023, a 49% increase. The latest revision in 2024 has set the guideline value at Rs 2,970 per sq.ft, representing a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 pertaining to this street. Overall, from 2007 to 2024, the guideline value has increased by 324%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, which is equal to the current value of Rajaji Street.

• Rajaji Cross Street: Rs 2,970 per sq.ft (2024)
• Rajabather Street: Rs 1,650 per sq.ft (2024)
• Rajarajeswari Nagar: Rs 2,970 per sq.ft (2024)
• Rajendran Lane: Rs 2,970 per sq.ft (2024)
• Rajendra Prasad Main Road: Rs 3,850 per sq.ft (2024)
• Rajendra Prasad Road (Part): Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, while the registration fee at 2% would be Rs 59,400. Together, the total cost for stamp duty and registration would be 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 Street?

The Sub Registrar Office that covers Rajaji Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value helps ensure that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji 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 significantly from Rs 700 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 324%.

Where can I find the registration office for Rajaji Street?

The registration office for Rajaji Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty and registration fees for property in Rajaji Street?

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

What is the median guideline value in Hastinapuram?

The median guideline value in Hastinapuram is Rs 2,970 per sq.ft, which is the same as the current guideline value for Rajaji Street.