Guideline Value for Rajaji Street / VOC Nagar

Rajaji Street / VOC Nagar guideline value

The current guideline value of Rajaji Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Rajaji Street / VOC Nagar has changed

The guideline value for Rajaji Street / VOC Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 185 per sq.ft. This increased to Rs 210 per sq.ft in 2003, marking a 14% rise. The value then saw a substantial jump to Rs 360 per sq.ft in 2007, which was a 71% increase. By 2017, the guideline value had reached Rs 1,675 per sq.ft, reflecting a remarkable 365% increase from the previous revision. The 2023 revision set the value at Rs 2,500 per sq.ft, a 49% increase from 2017.

As of the 2024 revision, the guideline value stands at Rs 2,750 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 1,386%. The register has no figure for this street in 2012.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in Pammal is Rs 2,090 per sq.ft, positioning Rajaji Street / VOC Nagar above this median.

• Rajaji Street / Hemanathapillai Avenue: Rs 1,760 per sq.ft (2024)
• Rajaji Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Rajaji Square: Rs 1,760 per sq.ft (2024)
• Rajalakshmi Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Rajalingam Street: Rs 1,760 per sq.ft (2024)
• Rajalingam Street, V.O.C Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street / VOC Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees would total Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajaji Street / VOC Nagar?

The Sub Registrar Office that covers Rajaji Street / VOC Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a key factor in property transactions in Pammal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

When you approach the registration office, the guideline value will be referenced to ensure that the transaction is in compliance with local regulations. This ensures transparency and helps maintain a standard for property valuations in the area.

Frequently asked questions

What is the current guideline value of Rajaji Street / VOC Nagar?

The current guideline value of Rajaji Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 185 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1,386% over this period.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, with Rajaji Street / VOC Nagar's current guideline value being above this median.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office do I go to for property registration in Pammal?

The Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, is the office responsible for property registration in this area.