Guideline Value for Rajaji Nagar Extension and Streets

Rajaji Nagar Extension and Streets guideline value

The current guideline value of Rajaji Nagar Extension and Streets in Konnur village, under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Rajaji Nagar Extension and Streets has changed

The guideline value has undergone several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. The value saw a substantial increase of 49% from 2017 to 2023, reaching Rs 3,500 per sq.ft, and has risen by 9% to the current value of Rs 3,800 per sq.ft in 2024.

It is important to note that 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

In Konnur, 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 for these streets is Rs 3,800 per sq.ft, placing Rajaji Nagar Extension and Streets at the median value.

• Rajaji Nagar Extension Balaji Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Bharathiar Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Ganga Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Gokul Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Jaganathan Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Kalamegam Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar Extension and Streets

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 fees to Rs 3,42,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajaji Nagar Extension and Streets?

The Rajaji Nagar Extension and Streets are covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

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 determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for tax purposes and legal compliance. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Rajaji Nagar Extension and Streets?

The current guideline value for Rajaji Nagar Extension and Streets 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 from Rs 800 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 375%.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 38,00,000, the total fees would be Rs 3,42,000.

Which Sub Registrar Office covers this area?

The Konnur Sub Registrar Office covers Rajaji Nagar Extension and Streets, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Rajaji Nagar Extension and Streets?

Rajaji Nagar Extension and Streets are classified as Residential Class II Type - I.