Guideline Value for Rajaji 1st Street

Rajaji 1st Street guideline value

The current guideline value of Rajaji 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Rajaji 1st Street has changed

The guideline value for Rajaji 1st Street has undergone several revisions over the years. The register shows that in 2002, the guideline value was Rs 295 per sq.ft. This increased significantly to Rs 335 per sq.ft in 2003, marking a 14% rise. The value continued to climb, reaching Rs 1,250 per sq.ft in 2007, which was a substantial increase of 273%. In 2012, the value was Rs 2,500 per sq.ft, reflecting a 100% increase from the previous revision. However, it dropped to Rs 1,675 per sq.ft in 2017, showing a decrease of 33%.

From 2017 to 2023, the guideline value saw a notable increase to Rs 2,500 per sq.ft, which was a 49% rise. The latest revision in 2024 has set the guideline value at Rs 2,800 per sq.ft, marking a 12% increase from the previous year. The register does not have figures for any other years for this street.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Rajaji 1st Street's 2024 figure below that median.

• Rajaji 2nd Street: Rs 2,800 per sq.ft (2024)
• Railway Lane: Rs 3,300 per sq.ft (2024)
• Poonthottam Colony Street: Rs 4,400 per sq.ft (2024)
• Poonthottam 2nd Street: Rs 5,500 per sq.ft (2024)
• Poonthottam 1st Street: Rs 5,500 per sq.ft (2024)
• Pookkara Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that 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 1st Street?

The Sub Registrar Office that covers Rajaji 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Nanganallur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fee and stamp duty are calculated based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Rajaji 1st Street?

The current guideline value of Rajaji 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase being from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, a change of 12%.

What is the land classification for Rajaji 1st Street?

Rajaji 1st Street is classified as Residential Class II Type - I, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Rajaji 1st Street?

The Sub Registrar Office for Rajaji 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Rajaji 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,52,000.