Guideline Value for Rajaji Nagar 6th Street

Rajaji Nagar 6th Street guideline value

The current guideline value of Rajaji Nagar 6th Street in Konnur village, under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Rajaji Nagar 6th Street has changed

The guideline value for Rajaji Nagar 6th Street has seen several revisions over the years. In 2002, the value was Rs 384 per sq.ft, which increased to Rs 417 per sq.ft in 2003. Following this, there was a significant rise to Rs 800 per sq.ft in 2007, and by 2012, it had reached Rs 3,500 per sq.ft. However, the value decreased to Rs 2,345 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,500 per sq.ft in 2023, followed by the current value of Rs 3,800 per sq.ft from the 2024 revision.

The changes between the revisions include a +9% increase from 2023 to 2024, a +49% increase from 2017 to 2023, a -33% decrease from 2012 to 2017, a +338% increase from 2007 to 2012, a +92% increase from 2003 to 2007, and a +9% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by +890%.

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 6th Street.

• Rajaji Nagar 5th 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 4th Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 9th Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 3rd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 6th Street

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

Which Sub Registrar Office covers Rajaji Nagar 6th Street?

The Sub Registrar Office that covers Rajaji Nagar 6th Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during the registration of property transactions in Konnur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 6th Street?

The current guideline value of Rajaji Nagar 6th 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 384 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, with various revisions in between.

What is the land classification for Rajaji Nagar 6th Street?

Rajaji Nagar 6th Street is classified under Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

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

Which office handles registrations for Rajaji Nagar 6th Street?

The Konnur Sub Registrar Office handles registrations for Rajaji Nagar 6th Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.