Guideline Value for Rajaji Nagar Extension Subash Street

Rajaji Nagar Extension Subash Street guideline value

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

The guideline value has undergone several revisions over the years. In 2002, the value was Rs 378 per sq.ft, which increased to Rs 410 per sq.ft in 2003. Following this, the value saw significant growth, reaching Rs 800 per sq.ft in 2007. However, it then dropped to Rs 3,500 per sq.ft in 2012, before further increasing to Rs 2,345 per sq.ft in 2017. The next revision in 2023 set the value at Rs 3,500 per sq.ft, and the most recent revision in 2024 has increased it to Rs 3,800 per sq.ft.

Between the revisions, the changes are notable. From 2002 to 2003, the increase was +8%. The value surged by +95% from 2003 to 2007, then saw a substantial rise of +338% from 2007 to 2012. The value decreased by -33% from 2012 to 2017, and it increased by +49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a +9% increase. 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 guideline value for these streets is Rs 3,800 per sq.ft, making Rajaji Nagar Extension Subash Street's 2024 figure equal to this median.

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

Stamp duty and registration fee for property in Rajaji Nagar Extension Subash 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, charged at 7%, would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000. Together, the total cost for these fees 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.

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

Which Sub Registrar Office covers Rajaji Nagar Extension Subash Street?

The Rajaji Nagar Extension Subash Street falls under the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, in the Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Konnur

When buying or selling property in Konnur, the guideline value is a crucial factor used during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that transactions are recorded accurately in accordance with the prevailing rates.

The guideline value is essential for both buyers and sellers, as it helps in understanding the official valuation of the property. This value is used by the registration office to calculate the necessary fees, which are mandatory for completing the property transaction.

Frequently asked questions

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

The current guideline value of Rajaji Nagar Extension Subash 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 properties in this area?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles the registration for Rajaji Nagar Extension Subash Street?

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

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

Rajaji Nagar Extension Subash Street is classified as Residential Class II Type - I, which is important for understanding its use and potential development.