Guideline Value for Rajaji Salai [North Beach Road]

Rajaji Salai [North Beach Road] guideline value

The current guideline value of Rajaji Salai [North Beach Road] is Rs 18,000 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Rajaji Salai [North Beach Road] has changed

The guideline value for Rajaji Salai [North Beach Road] has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 7,400 per sq.ft. This increased significantly to Rs 16,500 per sq.ft in the 2012 revision, followed by a decrease to Rs 11,055 per sq.ft in 2017. The value then rose to Rs 16,500 per sq.ft in the 2023 revision, and finally, it reached Rs 18,000 per sq.ft in the 2024 revision. The changes between these revisions include a 123% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 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 143%.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Rajaji Salai [North Beach Road] above this median.

• Prakasam Salai (Broadway) 2nd lane: Rs 8,200 per sq.ft (2024)
• Prakasam Salai (Broadway) 1st lane: Rs 8,200 per sq.ft (2024)
• Prakasam Salai [Broadway]: Rs 16,500 per sq.ft (2024)
• Post Office street (from Thambu Chetty street Junction to Sembu Doss street): Rs 7,100 per sq.ft (2024)
• Post Office street (from National Hotel to Thambu Chetty street Junction): Rs 7,100 per sq.ft (2024)
• Ramasamy street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Salai [North Beach Road]

For a 1,000 sq.ft plot at the current guideline value of Rs 18,000 per sq.ft, the total guideline value amounts to Rs 1,80,00,000. The stamp duty at 7% would be Rs 12,60,000, and the registration fee at 2% would be Rs 3,60,000, making the total charges Rs 16,20,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Rajaji Salai [North Beach Road]?

The Sub Registrar Office that covers Rajaji Salai [North Beach Road] is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value is compared to the sale price. The higher amount is used to calculate the stamp duty and registration fees, which are mandatory for legal property transactions. This ensures transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Rajaji Salai [North Beach Road]?

The current guideline value of Rajaji Salai [North Beach Road] is Rs 18,000 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 7,400 per sq.ft in 2007 to Rs 18,000 per sq.ft in 2024, reflecting an overall increase of 143% over this period.

What is the land classification for Rajaji Salai [North Beach Road]?

The land classification for Rajaji Salai [North Beach Road] is Commercial Special Type - I, indicating its designated use for commercial activities.

What are the other streets in Muthialpet with their guideline values?

Other streets in Muthialpet include Prakasam Salai (Broadway) 2nd lane and 1st lane, both at Rs 8,200 per sq.ft, and Prakasam Salai [Broadway] at Rs 16,500 per sq.ft, among others.

Where can I find the Sub Registrar Office for Rajaji Salai [North Beach Road]?

The Sub Registrar Office for Rajaji Salai [North Beach Road] is located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105, under the Chennai North Joint I SRO.