Guideline Value for Rajaji Nagar Extension Vegavathi Gate

Rajaji Nagar Extension Vegavathi Gate guideline value

The current guideline value for Rajaji Nagar Extension Vegavathi Gate is Rs 3,800 per sq.ft, effective from 1 July 2024. This property 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 Vegavathi Gate has changed

The guideline value for this street has seen several revisions over the years. Starting from Rs 378 per sq.ft in 2002, it increased to Rs 410 per sq.ft in 2003, marking an 8% rise. The value then rose significantly to Rs 800 per sq.ft in 2007, reflecting a 95% increase. Following this, the value surged to Rs 3,500 per sq.ft in 2012, an increase of 338%. However, it decreased to Rs 2,345 per sq.ft in 2017, showing a decline of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, a 49% rise, before reaching the current value of Rs 3,800 per sq.ft in 2024, which is a 9% increase.

There are no figures available for the register for the years not mentioned above. Overall, from 2002 to 2024, the guideline value has increased by 905%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO with 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 is equal to the guideline value of Rajaji Nagar Extension Vegavathi Gate.

• Rajaji Nagar Extension Vaigai Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Vegavathi Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Thanigai Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Vengateswarar Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Subramaniam Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Vengatragava Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar Extension Vegavathi Gate

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, bringing the total cost for these fees to 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 more details.

Which Sub Registrar Office covers Rajaji Nagar Extension Vegavathi Gate?

The Sub Registrar Office covering Rajaji Nagar Extension Vegavathi Gate 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 critical factor in property transactions in Konnur. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the agreed sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Rajaji Nagar Extension Vegavathi Gate?

The current guideline value for Rajaji Nagar Extension Vegavathi Gate 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 multiple times, starting from Rs 378 per sq.ft in 2002 and reaching Rs 3,800 per sq.ft in 2024, marking an overall increase of 905% over this period.

What is the land classification for Rajaji Nagar Extension Vegavathi Gate?

Rajaji Nagar Extension Vegavathi Gate is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price of the property.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Rajaji Nagar Extension Vegavathi Gate is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.