Guideline Value for Rajaji Nagar 7th Street

Rajaji Nagar 7th Street guideline value

The current guideline value of Rajaji Nagar 7th 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 7th Street has changed

The guideline value for Rajaji Nagar 7th Street has experienced several revisions over the years. The earliest recorded figure is from 2002, which 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 jump to Rs 3,500 per sq.ft in 2012, before dropping to Rs 2,345 per sq.ft in 2017. The guideline value increased again to Rs 3,500 per sq.ft in 2023 and has now reached Rs 3,800 per sq.ft in the 2024 revision.

In terms of percentage changes, from 2002 to 2024, the overall increase is 905%. Notably, the jump from 2017 to 2023 was 49%, while the increase from 2023 to 2024 is 9%. The revision from 2007 to 2012 saw a decrease of 33%, and the rise from 2003 to 2007 was 95%.

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 2024 figure for Rajaji Nagar 7th Street.

• Rajaji Nagar 6th Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 8th Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 5th Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 9th Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 4th 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 7th 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 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar 7th Street?

The Sub Registrar Office that covers Rajaji Nagar 7th 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 details.

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

The guideline value plays a crucial role during property transactions in Konnur. It is used to determine the stamp duty and registration fees that need to be paid when registering a property. Buyers and sellers must be aware of the guideline value to ensure they comply with the legal requirements during the transaction process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 7th Street?

The current guideline value of Rajaji Nagar 7th 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 the years.

What are the registration fees for properties in Rajaji Nagar 7th Street?

The registration fees for properties in Rajaji Nagar 7th Street include a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or sale price.

Which office handles the registration for Rajaji Nagar 7th Street?

The Konnur Sub Registrar Office handles the registration for Rajaji Nagar 7th Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Rajaji Nagar 7th Street?

Rajaji Nagar 7th Street is classified as Residential Class II Type - I, indicating its designated use for residential purposes.