Guideline Value for Rajaji Street (Villivakkam Road)

Rajaji Street (Villivakkam Road) guideline value

The current guideline value of Rajaji Street (Villivakkam Road) in Madhavaram village, under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Rajaji Street (Villivakkam Road) has changed

The guideline value for Rajaji Street has undergone several revisions over the years. The oldest recorded figure is from the 2012 revision, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 saw a significant increase to Rs 1,300 per sq.ft, reflecting a rise of 62% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Rajaji Street (Villivakkam Road) is below this median value.

• Rajaji Street (Lakshmipuram): Rs 1,300 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)
• 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 Street (Villivakkam Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty is charged at 7%, resulting in Rs 91,000, while the registration fee is charged at 2%, amounting to Rs 26,000. Together, the total cost for stamp duty and registration fee is 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajaji Street (Villivakkam Road)?

The Sub Registrar Office covering Rajaji Street (Villivakkam Road) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process for buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value for Rajaji Street has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then to Rs 1,300 per sq.ft in 2024. This represents a decline of 33% from 2012 to 2017, followed by an increase of 62% from 2017 to 2024.

What is the land classification for Rajaji Street?

The land classification for Rajaji Street (Villivakkam Road) is Residential Class III Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for properties in Rajaji Street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Rajaji Street located?

The Sub Registrar Office for Rajaji Street (Villivakkam Road) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of property transactions in the area.