Guideline Value for Rajaji Nagar Extension Petter Street

Rajaji Nagar Extension Petter Street guideline value

The current guideline value of Rajaji Nagar Extension Petter Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village and falls under the Konnur SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Rajaji Nagar Extension Petter Street has seen several revisions over the years. In 2002, the rate was Rs 378 per sq.ft, which increased to Rs 410 per sq.ft in 2003. By 2007, the value rose significantly to Rs 800 per sq.ft, followed by a dramatic increase to Rs 3,500 per sq.ft in 2012. However, this figure decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and most recently, it has been set at Rs 3,800 per sq.ft in the 2024 revision.

The changes between revisions are notable. From 2002 to 2003, there was an increase of 8%. The value rose by 95% from 2003 to 2007. The jump from 2007 to 2012 saw an increase of 338%, but then the value dropped by 33% from 2012 to 2017. A significant increase of 49% occurred from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024.

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 value is Rs 3,800 per sq.ft, which aligns with the 2024 figure for Rajaji Nagar Extension Petter Street.

• Rajaji Nagar Extension Parthiban Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Ponni Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Palani Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Rathina Avenue: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Muthu Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Roghini Street: Rs 3,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would amount to Rs 76,000. Together, the total cost for these fees would be Rs 3,42,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Rajaji Nagar Extension Petter Street?

The Sub Registrar Office that covers Rajaji Nagar Extension Petter Street is the Konnur Sub Registrar Office. The address is 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 when buying or selling property in Konnur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

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

The current guideline value of Rajaji Nagar Extension Petter 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 various increases and decreases across the years.

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

The land classification for Rajaji Nagar Extension Petter Street is Residential Class II Type - I.

Where can I find the Konnur Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,00,000 would incur a stamp duty of Rs 2,66,000 and a registration fee of Rs 76,000.