Guideline Value for Rajaji Street Annexure (Ward-14)

Rajaji Street Annexure (Ward-14) guideline value

The current guideline value of Rajaji Street Annexure (Ward-14) is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Rajaji Street Annexure (Ward-14) has changed

The guideline value for Rajaji Street Annexure has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. The latest revision in 2024 has increased the value to Rs 2,200 per sq.ft, marking a significant increase of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. 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, with guideline values 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, placing Rajaji Street Annexure (Ward-14) above the median with its current value of Rs 2,200 per sq.ft.

• Rajaji Street Avenue (Ward No.14): Rs 1,600 per sq.ft (2024)
• Rajaji Street (Lakshmipuram): Rs 1,300 per sq.ft (2024)
• Rajaji Street (Villivakkam Road): 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)

Stamp duty and registration fee for property in Rajaji Street Annexure (Ward-14)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Street Annexure (Ward-14)?

The Sub Registrar Office that covers Rajaji Street Annexure (Ward-14) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the current market conditions. Buyers and sellers must be aware of these values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Rajaji Street Annexure (Ward-14)?

The current guideline value of Rajaji Street Annexure (Ward-14) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then to Rs 2,200 per sq.ft in 2024. This reflects a 64% increase from the 2017 figure.

What is the land classification for Rajaji Street Annexure?

Rajaji Street Annexure is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.