Guideline Value for Rajaji Nagar Extension Kaveri Street

Rajaji Nagar Extension Kaveri Street guideline value

The current guideline value of Rajaji Nagar Extension Kaveri Street is Rs 3,800 per sq.ft. 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 Extension Kaveri Street has changed

The guideline value for Rajaji Nagar Extension Kaveri Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 378 per sq.ft, which increased to Rs 410 per sq.ft in 2003. The value saw significant growth, reaching Rs 800 per sq.ft in 2007, followed by a substantial rise to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017 before increasing again to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 3,800 per sq.ft.

In terms of percentage changes, the guideline value increased by 9% from 2023 to 2024. The value saw a 49% increase from 2017 to 2023. The 2012 to 2017 period recorded a decrease of 33%, while the 2007 to 2012 period experienced a remarkable increase of 338%. The value rose by 95% from 2003 to 2007 and by 8% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 905%.

Guideline values in Konnur

Konnur village has a total of 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 for these streets is Rs 3,800 per sq.ft, which is equal to the guideline value of Rajaji Nagar Extension Kaveri Street.

• Rajaji Nagar Extension Kamaraj Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Murali Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Kalamegam Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Muthu Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Jaganathan Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Palani Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar Extension Kaveri Street

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 3,42,000. It is important to note that the 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 Extension Kaveri Street?

The Sub Registrar Office that covers Rajaji Nagar Extension Kaveri 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 a crucial factor during the registration of property transactions in Konnur. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This ensures transparency and helps prevent undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Rajaji Nagar Extension Kaveri Street?

The current guideline value of Rajaji Nagar Extension Kaveri 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 seen several changes, starting 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,00,000, 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 property registrations for Rajaji Nagar Extension Kaveri Street?

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

What is the land classification for Rajaji Nagar Extension Kaveri Street?

Rajaji Nagar Extension Kaveri Street is classified as Residential Class II Type - I, indicating its intended use for residential purposes.