Guideline Value for Rajaji Street

Rajaji Street guideline value

The current guideline value of Rajaji Street is Rs 2,001 per sq.ft, effective from 1 July 2024. This street is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Rajaji Street has changed

Over the years, the guideline value of Rajaji Street has seen several revisions. The oldest available figure is from the 2017 revision, which set the value at Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, and then to Rs 2,001 per sq.ft in the 2024 revision, showing no percentage change between 2023 and 2024. The overall increase from the 2017 revision to the 2024 revision is 49%.

There are also revisions from the years 2002, 2003, 2007, and 2012, but the register has no figure for Rajaji Street in those years. The significant increase of 49% from 2017 to 2023 reflects the changes in the guideline value over this period.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median of Rs 1,500 per sq.ft. Rajaji Street's 2024 guideline value of Rs 2,001 per sq.ft is above this median.

• Rajalakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Railwaystation Road: Rs 2,001 per sq.ft (2024)
• Radhakrishnan Street: Rs 2,001 per sq.ft (2024)
• Pushpa Kanth Nagar: Rs 1,200 per sq.ft (2024)
• Pushapa Avenue: Rs 1,200 per sq.ft (2024)
• Raj Nagar: Rs 1,500 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 2,001 per sq.ft, the total guideline value is Rs 20,01,000. The stamp duty, charged at 7%, amounts to Rs 1,40,070, and the registration fee at 2% is Rs 40,020, bringing the total to Rs 1,80,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Street?

The Sub Registrar Office covering Rajaji Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Gooduvancheri. It determines the minimum price at which a property can be sold and is used to calculate the stamp duty and registration fees payable during the transaction.

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 2,001 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,001 per sq.ft in 2024, reflecting a 49% increase over this period.

What is the land classification of Rajaji Street?

Rajaji Street is classified as Residential Special Type - II, indicating its intended use for residential purposes.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Rajaji Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 20,01,000, the stamp duty at 7% would be Rs 1,40,070.