Guideline Value for Rajaji Nagar 5th Street

Rajaji Nagar 5th Street guideline value

The current guideline value of Rajaji Nagar 5th Street, located in Konnur village under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajaji Nagar 5th Street has changed

The guideline value for Rajaji Nagar 5th Street has undergone several revisions over the years. In 2002, the value was Rs 378 per sq.ft, which increased to Rs 410 per sq.ft in 2003. Following this, there was a significant rise to Rs 800 per sq.ft in 2007, and by 2012, it reached Rs 3,500 per sq.ft. However, in 2017, the value decreased to Rs 2,345 per sq.ft. The 2023 revision saw an increase to Rs 3,500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 3,800 per sq.ft.

Changes between the revisions indicate a +8% increase from 2002 to 2003, a +95% increase from 2003 to 2007, a +338% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and a +9% increase from 2023 to 2024. Overall, from 2002 to 2024, there has been a remarkable increase of +905% in the guideline value.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO with 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 5th Street.

• Rajaji Nagar 6th Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 4th 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 3rd 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 5th 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, bringing the total cost to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar 5th Street?

The Sub Registrar Office that covers Rajaji Nagar 5th Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To locate your SRO, 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 during the registration of property transactions in Konnur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that all transactions are recorded at a standardized value.

When buying or selling property, the guideline value helps determine the official value of the property, which is essential for legal and financial documentation. It ensures transparency and consistency in property transactions within the Konnur SRO jurisdiction.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 5th Street?

The current guideline value of Rajaji Nagar 5th 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 from Rs 378 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of +905% over this period.

What is the land classification for Rajaji Nagar 5th Street?

The land classification for Rajaji Nagar 5th Street is Residential Class II Type - I.

What are the stamp duty and registration fees for property in Rajaji Nagar 5th Street?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for Rajaji Nagar 5th Street?

The Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, handles registrations for Rajaji Nagar 5th Street.