Guideline Value for Rajaji Nagar 4th Street

Rajaji Nagar 4th Street guideline value

The current guideline value of Rajaji Nagar 4th Street, located in Konnur village under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Rajaji Nagar 4th Street has changed

The guideline value for Rajaji Nagar 4th Street has undergone several revisions over the years. The earliest recorded value in 2002 was Rs 378 per sq.ft. This increased to Rs 410 per sq.ft in 2003, followed by a significant rise to Rs 800 per sq.ft in 2007. The value then saw a substantial increase to Rs 3,500 per sq.ft in 2012, followed by a decrease to Rs 2,345 per sq.ft in 2017. The value was revised to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,800 per sq.ft from the 2024 revision.

Between the revisions, there have been notable percentage changes. From 2002 to 2003, the increase was +8%. The value rose by +95% from 2003 to 2007, followed by a remarkable +338% increase from 2007 to 2012. The value then decreased by -33% from 2012 to 2017, and increased by +49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a +9% increase. Overall, from 2002 to 2024, the guideline value has increased by +905%.

Guideline values in Konnur

In Konnur village, 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 guideline value is Rs 3,800 per sq.ft, which aligns with the current value of Rajaji Nagar 4th Street.

• Rajaji Nagar 5th Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 3rd 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 8th Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 9th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 4th 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 at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling 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 calculate your own fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar 4th Street?

The Sub Registrar Office that covers Rajaji Nagar 4th 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

When buying or selling property in Konnur, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must ensure that these values are accurately reflected in their documentation to comply with legal requirements.

Additionally, the guideline value helps in assessing the market value of the property for various purposes, including taxation and property transactions. It is essential for both parties involved in a transaction to be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 4th Street?

The current guideline value of Rajaji Nagar 4th Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with the most recent revision showing an increase of +9% from 2023 to 2024.

What is the land classification of Rajaji Nagar 4th Street?

Rajaji Nagar 4th Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Rajaji Nagar 4th Street?

The Konnur Sub Registrar Office covers Rajaji Nagar 4th Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Konnur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty would be calculated at 7% of that amount.