Guideline Value for Rajaji Nagar 1st Street

Rajaji Nagar 1st Street guideline value

The current guideline value of Rajaji Nagar 1st Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Rajaji Nagar 1st Street has changed

The guideline value for Rajaji Nagar 1st Street has seen several revisions over the years. In 2002, the guideline value was Rs 378 per sq.ft, which increased to Rs 410 per sq.ft in 2003. This was followed by a significant rise to Rs 800 per sq.ft in 2007. The value then jumped to Rs 3,500 per sq.ft in 2012, but saw a decrease to Rs 2,345 per sq.ft in 2017. The value increased again to Rs 3,500 per sq.ft in 2023, and finally reached Rs 3,800 per sq.ft in 2024.

From 2017 to 2023, the increase was 49%, while the jump from 2007 to 2012 was 338%. The overall change from 2002 to 2024 reflects a significant increase of 905%. There are no figures available for the revisions in years not listed.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry 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 equal to the guideline value of Rajaji Nagar 1st Street.

• 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)
• Rajaji Nagar 6th Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 7th Street: Rs 3,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar 1st Street?

The Sub Registrar Office that covers Rajaji Nagar 1st Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Konnur. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value will be referenced during the registration process. Buyers should be aware that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of Rajaji Nagar 1st 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 from Rs 378 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 905%.

What is the stamp duty for property in Rajaji Nagar 1st Street?

The stamp duty for property in Rajaji Nagar 1st Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Konnur Sub Registrar Office located?

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

How can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the appropriate link to search for your SRO.