Guideline Value for Rajaji Nagar Extension Palani Street

Rajaji Nagar Extension Palani Street guideline value

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

The guideline value for Rajaji Nagar Extension Palani Street has seen several revisions over the years. In 2002, the guideline value was Rs 378 per sq.ft. This increased to Rs 410 per sq.ft in 2003, followed by a significant rise to Rs 800 per sq.ft in 2007. The value then jumped to Rs 3,500 per sq.ft in 2012, before dropping to Rs 2,345 per sq.ft in 2017. The most recent revisions saw the value increase to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,800 per sq.ft in 2024.

Between these revisions, there were notable changes. From 2002 to 2003, the increase was +8%. The period from 2003 to 2007 saw a rise of +95%. However, the value decreased by -33% from 2012 to 2017. The most significant increase was from 2017 to 2023, which was +49%. The overall change from 2002 to 2024 reflects a substantial increase of +905%.

Guideline values in Konnur

Konnur village has 249 streets under the Konnur SRO, with guideline values for 2024 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 the same as the guideline value for Rajaji Nagar Extension Palani Street.

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

Stamp duty and registration fee for property in Rajaji Nagar Extension Palani 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. Therefore, the total cost for stamp duty and registration fee would be 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 precise calculations based on your property details.

Which Sub Registrar Office covers Rajaji Nagar Extension Palani Street?

The Sub Registrar Office that covers Rajaji Nagar Extension Palani 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 in the registration process for property transactions in Konnur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for assessing the value of the property. Buyers and sellers should be aware of the guideline value to ensure compliance with registration requirements and to understand the financial implications of their transactions.

Frequently asked questions

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

The current guideline value of Rajaji Nagar Extension Palani 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%.

What is the land classification of Rajaji Nagar Extension Palani Street?

Rajaji Nagar Extension Palani Street is classified as Residential Class II Type - I.

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.

Where is the Sub Registrar Office for Rajaji Nagar Extension Palani Street located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.