Guideline Value for Rajaji Street (Lakshmipuram)

Rajaji Street (Lakshmipuram) guideline value

The current guideline value of Rajaji Street (Lakshmipuram) is Rs 1,300 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 III Type - I.

How the guideline value of Rajaji Street (Lakshmipuram) has changed

The guideline value for Rajaji Street (Lakshmipuram) has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the latest 2024 revision, the guideline value increased significantly to Rs 1,300 per sq.ft, representing a rise of 62%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street in the register.

Guideline values in Madhavaram

In Madhavaram, there are a total of 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 guideline value in this area is Rs 1,600 per sq.ft, which means that Rajaji Street (Lakshmipuram) is below the median value.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Street (Lakshmipuram)?

The Sub Registrar Office that covers Rajaji Street (Lakshmipuram) 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 is a crucial factor in the registration process for property transactions in Madhavaram. It serves as the basis for calculating the stamp duty and registration fees that buyers and sellers must pay when transferring property ownership.

When purchasing property, it is essential to be aware that the guideline value can influence the overall cost of the transaction. Buyers should ensure they understand the guideline value applicable to the property they are interested in, as it directly affects the financial obligations during registration.

Frequently asked questions

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

The current guideline value of Rajaji Street (Lakshmipuram) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 1,200 per sq.ft to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. Overall, this represents an 8% increase from 2012 to 2024.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which is higher than the current guideline value of Rs 1,300 per sq.ft for Rajaji Street (Lakshmipuram).

What are the stamp duty and registration fees for property in Rajaji Street (Lakshmipuram)?

For a 1,000 sq.ft plot at the guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty and registration fees would amount to Rs 1,17,000 in total.

Where can I find the Sub Registrar Office for Rajaji Street (Lakshmipuram)?

The Sub Registrar Office for Rajaji Street (Lakshmipuram) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details online.