Guideline Value for Rajaji Street Avenue ( Ward No.14 )

Rajaji Street Avenue ( Ward No.14 ) guideline value

The current guideline value of Rajaji Street Avenue ( Ward No.14 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajaji Street Avenue ( Ward No.14 ) has changed

Over the years, the guideline value for Rajaji Street Avenue has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. The most recent revision in 2024 increased the value to Rs 1,600 per sq.ft, marking a significant increase of 59% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 7%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. This lack of data means that the changes in guideline value during those years are not documented.

Guideline values in Madhavaram

The 2024 guideline values for streets in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Rajaji Street Avenue's current guideline value aligns perfectly with this median.

• Rajaji Street Annexure (Ward-14): Rs 2,200 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 Avenue ( Ward No.14 )

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, these fees would total Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Street Avenue ( Ward No.14 )?

The Madhavaram Sub Registrar Office covers Rajaji Street Avenue ( Ward No.14 ). The address is No.7, Roja Nagar, Madhavaram, Chennai-600060, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees that are required during the transaction process.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately in the official register. This process protects both buyers and sellers by providing a clear framework for property valuation and taxation.

Frequently asked questions

What is the current guideline value of Rajaji Street Avenue ( Ward No.14 )?

The current guideline value of Rajaji Street Avenue ( Ward No.14 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024. Overall, there has been a 7% increase from 2012 to 2024.

What is the land classification for Rajaji Street Avenue?

The land classification for Rajaji Street Avenue ( Ward No.14 ) is Residential Class II Type - I.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, Chennai registration zone.

How are stamp duty and registration fees calculated for properties in Rajaji Street Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,44,000.