Guideline Value for Rajaji Street

Rajaji Street guideline value

The current guideline value of Rajaji Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Town village and falls under the Chengleput Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Rajaji Street has changed

The guideline value of Rajaji Street has seen several revisions over the years. In 2007, the value was Rs 1,351 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. The 2023 revision set the value at Rs 5,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the most notable changes include a 270% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 307%. Notably, the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,025 per sq.ft, placing Rajaji Street's current value above this median.

• Ragavanar Street: Rs 3,025 per sq.ft (2024)
• Rajeswari Vedachalam Street: Rs 3,850 per sq.ft (2024)
• Pudukarai ( Nadu Street): Rs 2,200 per sq.ft (2024)
• Pudu Eri: Rs 2,420 per sq.ft (2024)
• Ramapalayam: Rs 1,650 per sq.ft (2024)
• Pillaiyar Kulam Street: Rs 4,125 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajaji Street?

The Sub Registrar Office that covers Rajaji Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Chengalpattu Town

The guideline value plays a crucial role in property transactions in Chengalpattu Town. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,351 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 307% over the years.

What are the other streets in Chengalpattu Town and their guideline values?

Other streets in Chengalpattu Town include Ragavanar Street at Rs 3,025 per sq.ft, Rajeswari Vedachalam Street at Rs 3,850 per sq.ft, and several others with varying values.

What fees are associated with buying property in Rajaji Street?

When buying property in Rajaji Street, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajaji Street?

The Sub Registrar Office for Rajaji Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.