Guideline Value for Rajaji Nagar Extension Vegavathi Street

Rajaji Nagar Extension Vegavathi Street guideline value

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

The guideline value for Rajaji Nagar Extension Vegavathi Street has seen several revisions over the years. In the 2002 revision, the value was Rs 378 per sq.ft, which increased to Rs 410 per sq.ft in 2003, marking an 8% rise. The 2007 revision saw a significant jump to Rs 1,000 per sq.ft, representing a 144% increase. By 2012, the value rose to Rs 3,500 per sq.ft, showing a 250% increase from the previous revision. However, in 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a 33% drop. The 2023 revision set the value at Rs 3,500 per sq.ft, which then increased to Rs 3,800 per sq.ft in 2024, marking a 9% rise.

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

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 3,800 per sq.ft, which is the same as the current value for Rajaji Nagar Extension Vegavathi Street.

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

Stamp duty and registration fee for property in Rajaji Nagar Extension Vegavathi 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, bringing the total cost for these fees to Rs 3,42,000. It is important to note that 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 Vegavathi Street?

The Sub Registrar Office that covers Rajaji Nagar Extension Vegavathi Street is 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

The guideline value is a crucial factor during property registration in Konnur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property transaction occurs, the guideline value is compared with the sale price to ascertain the applicable fees. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the appropriate amount is collected based on the established guideline value.

Frequently asked questions

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

The current guideline value of Rajaji Nagar Extension Vegavathi 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, representing an overall increase of 905% over the years.

What are the other streets in Konnur with the same guideline value?

Other streets in Konnur that share the same guideline value of Rs 3,800 per sq.ft include Rajaji Nagar Extension Vegavathi Gate, Vengateswarar Street, Vaigai Street, Vengatragava Street, Thanigai Street, and Vinayagar Street.

What is the registration fee for property in Rajaji Nagar Extension Vegavathi Street?

The registration fee for property in Rajaji Nagar Extension Vegavathi Street is calculated based on the guideline value. For example, for a property valued at Rs 38,00,000, the registration fee at 2% would be Rs 76,000.

Where is the Sub Registrar Office for Rajaji Nagar Extension Vegavathi Street located?

The Sub Registrar Office for Rajaji Nagar Extension Vegavathi Street is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, in the Chennai registration zone.