Guideline Value for Rajaji Nagar Extension Sivan Street

Rajaji Nagar Extension Sivan Street guideline value

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

The guideline value for Rajaji Nagar Extension Sivan Street has seen several revisions over the years. The earliest recorded value in the register is from 2003, where it was Rs 474 per sq.ft. This figure increased significantly to Rs 800 per sq.ft in 2007, marking a 69% rise. The value then surged to Rs 3,500 per sq.ft in 2012, which was a remarkable increase of 338%. However, from 2012 to 2017, the value decreased by 33%, settling at Rs 2,345 per sq.ft. The subsequent revision in 2023 raised the value to Rs 3,500 per sq.ft, a 49% increase, and finally, the latest revision in 2024 set it at Rs 3,800 per sq.ft, reflecting a 9% increase.

It is important to note that the register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 702%.

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 aligns with the current guideline value of Rajaji Nagar Extension Sivan Street.

• Rajaji Nagar Extension Roghini Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Subash Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Rathina Avenue: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Subramaniam Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Ponni Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Thanigai Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar Extension Sivan 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, resulting in a total of Rs 3,42,000 for these fees. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar Extension Sivan Street?

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

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with the legal requirements. This ensures transparency and helps in accurately determining the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value for Rajaji Nagar Extension Sivan Street?

The current guideline value for Rajaji Nagar Extension Sivan 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 474 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, representing an overall increase of 702% over the years.

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

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

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Sub Register Office, 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 of the property, 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.