Guideline Value for Rajaji Nagar Extension Muthu Street

Rajaji Nagar Extension Muthu Street guideline value

The current guideline value of Rajaji Nagar Extension Muthu 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 falls under the Residential Class II Type - I land classification.

How the guideline value of Rajaji Nagar Extension Muthu Street has changed

The guideline value for Rajaji Nagar Extension Muthu 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. Following this, the value saw a significant rise to Rs 800 per sq.ft in 2007. However, it then dropped to Rs 3,500 per sq.ft in 2012, before further decreasing to Rs 2,345 per sq.ft in 2017. The value increased again to Rs 3,500 per sq.ft in 2023 and currently stands at Rs 3,800 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2002 to 2003, there was an increase of 8%. The value rose by 95% from 2003 to 2007. However, there was a decrease of 338% from 2007 to 2012, followed by a 49% increase from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 905%.

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 guideline value for these streets is Rs 3,800 per sq.ft, which is the same as the current value for Rajaji Nagar Extension Muthu Street.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the guideline value totals 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, resulting in a total of 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 Extension Muthu Street?

The Sub Registrar Office that covers Rajaji Nagar Extension Muthu 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 plays a crucial role in the registration process when buying or selling property in Konnur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to refer to the latest guideline values to ensure compliance with the legal requirements. This helps in avoiding any discrepancies during the registration process and ensures a smooth transaction.

Frequently asked questions

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

The current guideline value of Rajaji Nagar Extension Muthu 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 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 properties on this street?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would be Rs 3,42,000.

Which office handles the registration for properties in this area?

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

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

Rajaji Nagar Extension Muthu Street falls under the Residential Class II Type - I land classification.