Guideline Value for Rajaji Street (Kalaignar Nagar)

Rajaji Street (Kalaignar Nagar) guideline value

The current guideline value of Rajaji Street (Kalaignar Nagar) is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajaji Street (Kalaignar Nagar) has changed

The guideline value for Rajaji Street has seen several revisions over the years. In 2002, the value was Rs 256 per sq.ft, which increased to Rs 320 per sq.ft in 2003, marking a 25% rise. The value further increased significantly to Rs 750 per sq.ft in 2007, reflecting a 134% change. By 2012, the value was Rs 3,500 per sq.ft, a substantial increase of 367% from the previous revision. However, it dropped to Rs 2,345 per sq.ft in 2017, which was a decrease of 33% from 2012. The value then rose to Rs 3,500 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,404%. There are no figures available for the revisions in years not listed above.

Guideline values in Parangimalai

In Parangimalai village, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value among these streets is Rs 3,850 per sq.ft, which is equal to the guideline value of Rajaji Street for 2024.

• Rajaji Street: Rs 3,850 per sq.ft (2024)
• Rajapalaiyam Street: Rs 2,750 per sq.ft (2024)
• Railway Station Road: Rs 4,400 per sq.ft (2024)
• Raja Street 10th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 1st Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 2nd Lane: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street (Kalaignar Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Street (Kalaignar Nagar)?

The Sub Registrar Office that covers Rajaji Street (Kalaignar Nagar) is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions comply with the regulatory framework set by the government.

Frequently asked questions

What is the current guideline value of Rajaji Street (Kalaignar Nagar)?

The current guideline value of Rajaji Street (Kalaignar Nagar) is Rs 3,850 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 256 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1,404%.

What are the stamp duty rates for properties in Rajaji Street?

The stamp duty for properties in Rajaji Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Rajaji Street located?

The Sub Registrar Office for Rajaji Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the median guideline value for streets in Parangimalai?

The median guideline value for streets in Parangimalai is Rs 3,850 per sq.ft, which is the same as the guideline value for Rajaji Street in 2024.