Guideline Value for Rajaji Street 2nd Lane

Rajaji Street 2nd Lane guideline value

The current guideline value of Rajaji Street 2nd Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Rajaji Street 2nd Lane has changed

Over the years, the guideline value of Rajaji Street 2nd Lane has seen significant changes. In 2002, the guideline value was Rs 623 per sq.ft. This figure increased to Rs 766 per sq.ft in 2003, marking a 23% rise. The value continued to climb to Rs 2,500 per sq.ft in 2007, reflecting a substantial increase of 226%. By 2012, the value was Rs 4,000 per sq.ft, showing a 60% increase from the previous revision. However, it then decreased to Rs 2,680 per sq.ft in 2017, indicating a decline of 33% from 2012. The value rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by 606%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing Rajaji Street 2nd Lane's 2024 figure above that median.

• Rajaji Street 1st Lane: Rs 4,400 per sq.ft (2024)
• Rajaji Street 3rd Lane: Rs 4,400 per sq.ft (2024)
• Rajaji Road/Street: Rs 6,600 per sq.ft (2024)
• Rajagopal Street: Rs 4,400 per sq.ft (2024)
• Rajammal Avenue: Rs 2,200 per sq.ft (2024)
• Raja Nagar Lay out: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street 2nd Lane

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajaji Street 2nd Lane?

The Sub Registrar Office that covers Rajaji Street 2nd Lane is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value plays a crucial role when buying or selling property in Tambaram. It is used as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Rajaji Street 2nd Lane?

The current guideline value of Rajaji Street 2nd Lane is Rs 4,400 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 623 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 606% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office located for Rajaji Street 2nd Lane?

The Sub Registrar Office for Rajaji Street 2nd Lane is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is the guideline value determined for properties in Tambaram?

The guideline value is determined based on various factors, including land classification and historical revisions. It is updated periodically to reflect changes in the real estate market.