Guideline Value for Rajaji St ( Ward No.14 )

Rajaji St ( Ward No.14 ) guideline value

The current guideline value of Rajaji St ( Ward No.14 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rajaji St ( Ward No.14 ) has changed

The guideline value for Rajaji St ( Ward No.14 ) has undergone several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. However, the most recent revision in 2024 saw a significant increase to Rs 2,200 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street. The changes between the revisions indicate a fluctuation in the guideline values, with the notable drop from 2012 to 2017 followed by a substantial increase in the latest revision.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, placing Rajaji St ( Ward No.14 ) above this median with its current value of Rs 2,200 per sq.ft.

• Rajaji St ( Ward No.23 ): Rs 2,200 per sq.ft (2024)
• Rajaji St ( Ward No.28 ): Rs 2,200 per sq.ft (2024)
• Rajaji Street (Villivakkam Road): Rs 1,300 per sq.ft (2024)
• Rajaji Street (Lakshmipuram): Rs 1,300 per sq.ft (2024)
• Rajaji Street Avenue ( Ward No.14 ): Rs 1,600 per sq.ft (2024)
• Rajaji Street Annexure (Ward-14): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji St ( Ward No.14 )

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total costs together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji St ( Ward No.14 )?

The Sub Registrar Office that covers Rajaji St ( Ward No.14 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the transaction is legally compliant. Buyers and sellers should be aware of the guideline value to avoid any discrepancies in the registration process.

Frequently asked questions

What is the current guideline value of Rajaji St ( Ward No.14 )?

The current guideline value of Rajaji St ( Ward No.14 ) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the land classification of Rajaji St ( Ward No.14 )?

Rajaji St ( Ward No.14 ) is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Rajaji St ( Ward No.14 )?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.