Guideline Value for Rajaji Road/Street

Rajaji Road/Street guideline value

The current guideline value of Rajaji Road/Street in Tambaram village is Rs 6,600 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Commercial Class I Type - II.

How the guideline value of Rajaji Road/Street has changed

The guideline value for Rajaji Road/Street has seen several revisions over the years. The 2012 revision set the value at Rs 6,000 per sq.ft. However, in 2017, this figure decreased to Rs 4,020 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 6,000 per sq.ft in 2023, followed by a further increase to Rs 6,600 per sq.ft in the 2024 revision, reflecting a rise of 10% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft as of 2024. The median value among these streets is Rs 3,300 per sq.ft, placing Rajaji Road/Street's 2024 figure above this median.

• Rajagopal Street: Rs 4,400 per sq.ft (2024)
• Rajaji Street 1st Lane: Rs 4,400 per sq.ft (2024)
• Rajaji Street 2nd Lane: Rs 4,400 per sq.ft (2024)
• Rajaji Street 3rd Land: Rs 4,400 per sq.ft (2024)
• Rajammal Avenue: Rs 2,200 per sq.ft (2024)
• Raja Nagar Lay out: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Road/Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 66,00,000. The stamp duty at 7% amounts to Rs 4,62,000, while the registration fee at 2% is Rs 1,32,000. Together, the total cost for these fees is Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajaji Road/Street?

The Rajaji Road/Street falls under the Tambaram Joint 1 Sub Registrar Office located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Tambaram

The guideline value is a crucial factor during the registration of property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for transactions. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajaji Road/Street?

The current guideline value of Rajaji Road/Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent increase from Rs 6,000 per sq.ft in 2023 to Rs 6,600 per sq.ft in 2024. The value was Rs 4,020 per sq.ft in 2017 and Rs 6,000 per sq.ft in 2012.

What is the land classification of Rajaji Road/Street?

Rajaji Road/Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Rajaji Road/Street?

The Sub Registrar Office covering Rajaji Road/Street is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Rajaji Road/Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 6,600 per sq.ft, the stamp duty would be Rs 4,62,000.