Guideline Value for Rajaji Nagar Extension Murali Street

Rajaji Nagar Extension Murali Street guideline value

The current guideline value of Rajaji Nagar Extension Murali 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 Extension Murali Street has changed

The guideline value for Rajaji Nagar Extension Murali Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 378 per sq.ft. It increased to Rs 410 per sq.ft in 2003, followed by a significant rise to Rs 800 per sq.ft in 2007. The 2012 revision saw the value remain at Rs 3,500 per sq.ft, but it dropped to Rs 2,345 per sq.ft in 2017. The guideline value then rose to Rs 3,500 per sq.ft in 2023, and the current revision for 2024 is Rs 3,800 per sq.ft.

Between these revisions, the changes were notable. From 2002 to 2003, there was an increase of 8%. The value surged by 95% from 2003 to 2007. However, it experienced a decline of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a rise of 9%. 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 that carry 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 current guideline value of Rajaji Nagar Extension Murali Street.

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

Stamp duty and registration fee for property in Rajaji Nagar Extension Murali 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 is calculated at 7%, which results in Rs 2,66,000, and the registration fee is 2%, amounting to Rs 76,000. Therefore, the total cost for stamp duty and registration fees together is 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajaji Nagar Extension Murali Street?

The Sub Registrar Office that covers Rajaji Nagar Extension Murali Street is the Konnur Sub Registrar Office. The address is Sub Register Office, 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 in property transactions in Konnur. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Rajaji Nagar Extension Murali 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 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 Extension Murali Street?

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

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It helps ensure that properties are registered at a value that reflects local regulations.