Guideline Value for Rajaji Street 3rd Land

Rajaji Street 3rd Land guideline value

The current guideline value of Rajaji Street 3rd Land is Rs 4,400 per sq.ft, effective from 1 July 2024. This property is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification is Residential Special Type - II.

How the guideline value of Rajaji Street 3rd Land has changed

The guideline value for Rajaji Street 3rd Land has seen significant changes over the years. In 2002, the guideline value was Rs 623 per sq.ft. This increased to Rs 766 per sq.ft in 2003, marking a 23% rise. The value continued to climb, reaching Rs 2,500 per sq.ft in 2007, which was a substantial increase of 226%. In 2012, the value was Rs 4,000 per sq.ft, reflecting a 60% increase from the previous revision. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 4,000 per sq.ft, marking a 49% increase. The latest revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year. There are no figures available for the years not listed in the register for this street.

Guideline values in Tambaram

In Tambaram, 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 value for these streets is Rs 3,300 per sq.ft, placing Rajaji Street 3rd Land above this median.

• Rajaji Street 2nd Lane: Rs 4,400 per sq.ft (2024)
• Rajaji Street 1st 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 3rd Land

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 duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Rajaji Street 3rd Land?

The Sub Registrar Office that covers Rajaji Street 3rd Land 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 is a crucial factor in property transactions in Tambaram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the government and is periodically revised to reflect changes in the real estate market.

When selling property, the guideline value helps establish a baseline for the sale price. It ensures that the transaction is registered at a value that is recognized by the government, which is essential for legal and taxation purposes.

Frequently asked questions

What is the current guideline value of Rajaji Street 3rd Land?

The current guideline value of Rajaji Street 3rd Land 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 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 is the land classification for Rajaji Street 3rd Land?

The land classification for Rajaji Street 3rd Land is Residential Special Type - II.

What are the stamp duty and registration fees for property in Rajaji Street 3rd Land?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000 based on the current guideline value.

Which office handles property registrations for Rajaji Street 3rd Land?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Rajaji Street 3rd Land, located at No.26, Mes Road, East Tambaram, Chennai-600059.