Guideline Value for Rajaji Avenue

Rajaji Avenue guideline value

The current guideline value of Rajaji Avenue in Perumattu Nellore village is Rs 800 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Rajaji Avenue has changed

The guideline value for Rajaji Avenue has undergone several revisions over the years. In 2007, the value was Rs 80 per sq.ft, which increased to Rs 500 per sq.ft in 2012, marking a significant rise of 525%. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft, a decline of 33%. The value then saw a substantial increase to Rs 800 per sq.ft in 2023, followed by no change in the 2024 revision.

From 2017 to 2023, the guideline value increased by 139%. Overall, from 2007 to 2024, the guideline value has risen by 900%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft, with a median value of Rs 700 per sq.ft. Rajaji Avenue's current value of Rs 800 per sq.ft is above this median.

• Rajaji Nagar: Rs 800 per sq.ft (2024)
• Rajajipuram: Rs 500 per sq.ft (2024)
• Radiant Avenue: Rs 2,500 per sq.ft (2024)
• Rathina Mangala Nagar: Rs 500 per sq.ft (2024)
• Pillayar Koil St: Rs 700 per sq.ft (2024)
• Sai Avenue: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total cost for these fees Rs 72,000. 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 Avenue?

Rajaji Avenue is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Perumattu Nellore

The guideline value is a crucial factor in property transactions in Perumattu Nellore. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value ensures that the government receives appropriate revenue from property transactions.

When selling property, the guideline value helps determine the minimum price at which a property can be registered. It provides a standard measure that reflects the value of the property in the area, ensuring transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Rajaji Avenue?

The current guideline value of Rajaji Avenue is Rs 800 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 80 per sq.ft in 2007 to Rs 800 per sq.ft in 2024, reflecting an overall increase of 900% over the years.

What is the classification of land on Rajaji Avenue?

Rajaji Avenue is classified as Residential Special Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 8,00,000, the total fees would amount to Rs 72,000.

Which office handles registrations for Rajaji Avenue?

The Chengleput Joint II Sub Registrar Office handles registrations for Rajaji Avenue, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.