Guideline Value for Rajaji Street(15)

Rajaji Street(15) guideline value

The current guideline value of Rajaji Street(15) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village and falls under the Pammal SRO. The land classification is Residential Class II Type - I.

How the guideline value of Rajaji Street(15) has changed

The guideline value for Rajaji Street(15) has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The current 2024 revision marks a further increase to Rs 1,100 per sq.ft. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Between the revisions, there have been significant changes. From 2017 to 2023, the guideline value rose by 49%, and from 2023 to 2024, it increased by 10%. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Rajaji Street(15) below this median.

• Rajaji Street(6): Rs 1,100 per sq.ft (2024)
• Rajaji Street: Rs 1,100 per sq.ft (2024)
• Rajarajeswari Nagar: Rs 1,320 per sq.ft (2024)
• Rajeswari Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Rajeswari Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Rajeswari Nagar 3rd Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street(15)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. 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 details on fees applicable to your property.

Which Sub Registrar Office covers Rajaji Street(15)?

The Sub Registrar Office that covers Rajaji Street(15) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial element in property transactions in Pozhichalur. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

When registering a property, it is essential to provide the guideline value to ensure compliance with local regulations. This value helps in maintaining transparency and fairness in property transactions, ensuring that all parties are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value of Rajaji Street(15)?

The current guideline value of Rajaji Street(15) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024. This represents an overall increase of 64% over the seven years.

What is the land classification for Rajaji Street(15)?

Rajaji Street(15) is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Rajaji Street(15)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.