Guideline Value for Rajaji Nagar 9th Street

Rajaji Nagar 9th Street guideline value

The current guideline value of Rajaji Nagar 9th Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur Sub Registrar Office (SRO), and falls under the Residential Class II Type - I land classification.

How the guideline value of Rajaji Nagar 9th Street has changed

The guideline value for Rajaji Nagar 9th Street has seen 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, the value rose significantly to Rs 800 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017, before climbing to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft.

Between these revisions, notable changes occurred. From 2002 to 2003, the increase was +8%. The rise from 2003 to 2007 was +95%, followed by a significant jump of +338% from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. A substantial increase of +49% was observed from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a +9% change.

Guideline values in Konnur

Konnur village features a total of 249 streets under the Konnur SRO, with guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value is Rs 3,800 per sq.ft, which aligns with the current guideline value for Rajaji Nagar 9th Street.

• Rajaji Nagar 8th Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar 7th 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 Extension and Streets: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Balaji Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 9th 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 duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajaji Nagar 9th Street?

The Sub Registrar Office that covers Rajaji Nagar 9th 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 is a crucial factor during the registration of property transactions in Konnur. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 9th Street?

The current guideline value of Rajaji Nagar 9th 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 from Rs 378 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting various increases and decreases across the years.

What is the land classification for Rajaji Nagar 9th Street?

Rajaji Nagar 9th Street is classified as Residential Class II Type - I.

Which Sub Registrar Office is responsible for Rajaji Nagar 9th Street?

The Konnur Sub Registrar Office is responsible for Rajaji Nagar 9th Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Rajaji Nagar 9th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 38,00,000 would incur a stamp duty of Rs 2,66,000 at 7%.