Guideline Value for Rajaji Nagar 8th Street

Rajaji Nagar 8th Street guideline value

The current guideline value of Rajaji Nagar 8th 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 8th Street has changed

The guideline value for Rajaji Nagar 8th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 378 per sq.ft, which increased to Rs 410 per sq.ft in 2003. The value saw a significant rise to Rs 800 per sq.ft in 2007, followed by a substantial increase to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023 and has now reached Rs 3,800 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 905%. The revisions from 2012 to 2017 saw a decrease of 33%, while the increase from 2017 to 2023 was 49%. The sharpest rise occurred between 2007 and 2012, with an increase of 338%.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, which is the same as that of Rajaji Nagar 8th Street.

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

Stamp duty and registration fee for property in Rajaji Nagar 8th 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 the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajaji Nagar 8th Street?

The Sub Registrar Office that covers Rajaji Nagar 8th 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 information.

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

The guideline value is an essential factor when registering property in Konnur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in calculating the applicable duties, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the registration process is aligned with the established values in the area.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 8th Street?

The current guideline value of Rajaji Nagar 8th Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly from Rs 378 per sq.ft to Rs 3,800 per sq.ft in 2024, marking an overall increase of 905%.

What are the other streets in Konnur with the same guideline value?

Other streets in Konnur with the same guideline value of Rs 3,800 per sq.ft include Rajaji Nagar 7th, 8th, 9th, 6th, 5th, and 4th Streets, as well as Rajaji Nagar Extension and Streets.

What is the stamp duty rate for property in Rajaji Nagar 8th Street?

The stamp duty rate for property in Rajaji Nagar 8th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajaji Nagar 8th Street?

The Sub Registrar Office for Rajaji Nagar 8th Street is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.