Guideline Value for Rajaji Square

Rajaji Square guideline value

The current guideline value of Rajaji Square is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class III Type - II.

How the guideline value of Rajaji Square has changed

The guideline value of Rajaji Square has seen significant changes over the years. In 2002, the value was Rs 124 per sq.ft, which increased to Rs 141 per sq.ft in 2003, marking a change of +14%. The next revision in 2007 saw a substantial rise to Rs 260 per sq.ft, an increase of +84%. By 2017, the value had jumped to Rs 1,072 per sq.ft, reflecting a remarkable change of +312%. The 2023 revision set the value at Rs 1,600 per sq.ft, which was a +49% increase from the 2017 figure. Finally, the current guideline value for 2024 is Rs 1,760 per sq.ft, representing a +10% increase from the previous year.

It is important to note that the register has no figure for Rajaji Square for the year 2012.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with the 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, making the current value of Rajaji Square below that median.

• Rajagopal Street / Muthamzih Nagar: Rs 2,475 per sq.ft (2024)
• Rajaji Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Rajaji Street / Hemanathapillai Avenue: Rs 1,760 per sq.ft (2024)
• Rajaji Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Rajalakshmi Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Rajalingam Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Square

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200. Together, the total cost for these fees would be Rs 1,58,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Rajaji Square?

The Sub Registrar Office that covers Rajaji Square is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Pammal, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

During the registration process, the buyer and seller must adhere to the guideline value set for the property. This ensures that the government receives the appropriate revenue from stamp duties, which are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Rajaji Square?

The current guideline value of Rajaji Square is Rs 1,760 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 124 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, which is an overall increase of +1319%.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, with Rajaji Square's current value being below this median.

What are the stamp duty and registration fees for a property in Rajaji Square?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Where is the Sub Registrar Office for Rajaji Square located?

The Sub Registrar Office for Rajaji Square is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.