Guideline Value for Rajaji Nagar Extension Vinayagar Street

Rajaji Nagar Extension Vinayagar Street guideline value

The current guideline value of Rajaji Nagar Extension Vinayagar Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Rajaji Nagar Extension Vinayagar Street has changed

The guideline value for Rajaji Nagar Extension Vinayagar Street 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, marking an 8% rise. The value then saw a significant jump to Rs 800 per sq.ft in 2007, representing a 95% increase. By 2012, the value was Rs 3,500 per sq.ft, reflecting a substantial 338% increase from the previous revision. However, it decreased to Rs 2,345 per sq.ft in 2017, showing a decline of 33% before rising to Rs 3,500 per sq.ft again in 2023.

The most recent revision in 2024 set the guideline value at Rs 3,800 per sq.ft, which is a 9% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 905%.

Guideline values in Konnur

In Konnur village, there are 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 is Rs 3,800 per sq.ft, placing Rajaji Nagar Extension Vinayagar Street at this median value.

• Rajaji Nagar Extension Vengatragava Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Vengateswarar Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Vegavathi Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Vegavathi Gate: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Vaigai 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 Vinayagar 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 charges 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar Extension Vinayagar Street?

The Sub Registrar Office that covers Rajaji Nagar Extension Vinayagar Street 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 crucial factor during the registration of property transactions in Konnur. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the prevailing rates set by the government. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

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

The current guideline value of Rajaji Nagar Extension Vinayagar 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 seen several changes, increasing from Rs 378 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 905%.

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 property registrations for Rajaji Nagar Extension Vinayagar Street?

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

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for calculating stamp duty and registration fees during property transactions. It ensures that all transactions are recorded at a value reflecting the government's set rates.