Guideline Value for Rajaji St ( Ward No.28 )

Rajaji St ( Ward No.28 ) guideline value

The current guideline value of Rajaji St ( Ward No.28 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Rajaji St ( Ward No.28 ) has changed

Over the years, the guideline value of Rajaji St ( Ward No.28 ) has undergone 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, the latest revision in 2024 has increased the guideline value to Rs 2,200 per sq.ft, marking a significant rise of 64% from the 2017 figure.

From 2012 to 2017, there was a decrease of 33%, but from 2012 to 2024, the overall change is an increase of 10%. It is important to note that the register has no figure for this street for the years 2023, 2007, 2003, and 2002.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, positioning Rajaji St ( Ward No.28 ) above this median with its 2024 figure of Rs 2,200 per sq.ft.

• Rajaji St ( Ward No.23 ): Rs 2,200 per sq.ft (2024)
• Rajaji St ( Ward No.14 ): 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.28 )

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling 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 also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajaji St ( Ward No.28 )?

The Sub Registrar Office that covers Rajaji St ( Ward No.28 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It is the benchmark set by the government to determine the minimum value at which properties are registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Rajaji St ( Ward No.28 )?

The current guideline value of Rajaji St ( Ward No.28 ) 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 now to Rs 2,200 per sq.ft in 2024. There was a decrease of 33% from 2012 to 2017, followed by an increase of 64% from 2017 to 2024.

What is the land classification for Rajaji St ( Ward No.28 )?

The land classification for Rajaji St ( Ward No.28 ) is Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers Rajaji St ( Ward No.28 )?

The Madhavaram Sub Registrar Office covers Rajaji St ( Ward No.28 ), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.