Guideline Value for Rajaji St

Rajaji St guideline value

The current guideline value of Rajaji St is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class II Type - II.

How the guideline value of Rajaji St has changed

The guideline value for Rajaji St has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 1,000 per sq.ft, and the current 2024 revision has further increased it to Rs 1,100 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, there was a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 1,650 per sq.ft. Rajaji St's 2024 guideline value is below this median.

• Rajamannar Street: Rs 1,650 per sq.ft (2024)
• Rajarajan St: Rs 1,100 per sq.ft (2024)
• Rajarajeswari Nagar: Rs 1,650 per sq.ft (2024)
• RajaRajeswari St: Rs 1,650 per sq.ft (2024)
• Raja Street: Rs 1,100 per sq.ft (2024)
• Rajendra Cholan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Rajaji St?

The Sub Registrar Office that covers Rajaji St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Chitlapakkam. It determines the minimum price at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. Buyers must be aware that the registration fees and stamp duty 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 St?

The current guideline value of Rajaji St is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Rajaji St?

Rajaji St is classified as Residential Class II Type - II, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate results in a total cost of Rs 99,000 for these fees.

Which office handles property registrations for Rajaji St?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Rajaji St, located at No.26, Mes Road, East Tambaram, Chennai-600059.