Guideline Value for Rajaji Nagar Extension Subramaniam Street

Rajaji Nagar Extension Subramaniam Street guideline value

The current guideline value for Rajaji Nagar Extension Subramaniam 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 Subramaniam Street has changed

Over the years, the guideline value for Rajaji Nagar Extension Subramaniam Street has seen significant changes. In the 2007 revision, the value was Rs 800 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012, marking a substantial rise of 338%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a decline of 33%. The value then increased to Rs 3,500 per sq.ft in the 2023 revision, reflecting a 49% increase. The most recent revision in 2024 saw the value rise again to Rs 3,800 per sq.ft, a change of 9% from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 375%.

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 matches the guideline value for Rajaji Nagar Extension Subramaniam Street.

• Rajaji Nagar Extension Subash Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Thanigai Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Sivan Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Vaigai Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Roghini Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Vegavathi Gate: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar Extension Subramaniam 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 amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar Extension Subramaniam Street?

The Sub Registrar Office covering Rajaji Nagar Extension Subramaniam Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, 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 of property transactions in Konnur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

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

The current guideline value for Rajaji Nagar Extension Subramaniam Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, representing an overall increase of 375% 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. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office handles registrations for this street?

The Konnur Sub Registrar Office handles registrations for Rajaji Nagar Extension Subramaniam Street, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

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

Rajaji Nagar Extension Subramaniam Street is classified as Residential Class II Type - I, indicating its suitability for residential developments.