Guideline Value for Rajaji St ( Ward No.23 )

Rajaji St ( Ward No.23 ) guideline value

The current guideline value for Rajaji St ( Ward No.23 ) is Rs 2,200 per sq.ft. 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.23 ) has changed

Over the years, the guideline value for Rajaji St ( Ward No.23 ) has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to the 2024 revision, the value increased significantly to Rs 2,200 per sq.ft, marking a change of +64%. Overall, from 2012 to 2024, the guideline value has increased by +10%.

It is important to note that there are no figures available for the revisions in 2023, 2007, and 2003 for this street. The 2012 and 2017 revisions show a decrease followed by a substantial increase in the latest revision.

Guideline values in Madhavaram

The guideline values for streets in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Rajaji St ( Ward No.23 ) at Rs 2,200 per sq.ft is above this median.

• Rajaji St ( Ward No.14 ): 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.23 )

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

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Rajaji St ( Ward No.23 )?

The Sub Registrar Office that covers Rajaji St ( Ward No.23 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial element in the registration of property transactions in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs incurred during the buying or selling process.

When a property is registered, the higher value between the guideline value and the sale price is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Rajaji St ( Ward No.23 )?

The current guideline value for Rajaji St ( Ward No.23 ) is Rs 2,200 per sq.ft, effective from July 1, 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, then increased to Rs 2,200 per sq.ft in 2024. Overall, there has been a +10% increase from 2012 to 2024.

What is the land classification for Rajaji St ( Ward No.23 )?

Rajaji St ( Ward No.23 ) is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for Rajaji St ( Ward No.23 )?

The registration office for Rajaji St ( Ward No.23 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For Rajaji St ( Ward No.23 ), the guideline value is currently Rs 2,200 per sq.ft, which will be used for calculating the applicable duties and fees.