Guideline Value for Rajaji Nagar 3rd Street

Rajaji Nagar 3rd Street guideline value

The current guideline value of Rajaji Nagar 3rd 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 3rd Street has changed

Over the years, the guideline value of Rajaji Nagar 3rd Street has seen significant changes. In 2002, the guideline value was Rs 378 per sq.ft, which increased to Rs 410 per sq.ft in 2003. Following this, the value rose to Rs 800 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017, before increasing again to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

When we look at the changes between revisions, there was a significant increase of 338% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023. Overall, from 2002 to 2024, the guideline value has increased by 905%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, which is equal to the guideline value of Rajaji Nagar 3rd Street.

• 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)
• Rajaji Nagar 2nd Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 8th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 3rd Street

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

You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Rajaji Nagar 3rd Street?

The Sub Registrar Office covering Rajaji Nagar 3rd Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Konnur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration regulations.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the taxes are based on a standardized value, providing transparency in property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 3rd Street?

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

What is the land classification for Rajaji Nagar 3rd Street?

Rajaji Nagar 3rd Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Where can I find the Sub Registrar Office for Rajaji Nagar 3rd Street?

The Sub Registrar Office for Rajaji Nagar 3rd Street is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.