Guideline Value for Rajaji Street

Rajaji Street guideline value

The current guideline value of Rajaji Street in Nanmangalam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Rajaji Street has changed

The guideline value for Rajaji Street has seen several revisions over the years. In 2002, the value was Rs 88 per sq.ft, which increased significantly to Rs 124 per sq.ft in 2003, marking a 41% rise. The value continued to climb, reaching Rs 900 per sq.ft in 2007, a substantial increase of 626%. Following this, the value rose to Rs 2,500 per sq.ft in 2012, reflecting a 178% increase. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The guideline value was revised to Rs 2,500 per sq.ft in 2023, and it has now increased to Rs 2,750 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 3025%. The register has no figures for the years not mentioned in this summary.

Guideline values in Nanmangalam

Nanmangalam has a total of 139 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,750 per sq.ft, which is the same as that of Rajaji Street.

• Rajeev Gandhi Nagar: Rs 3,300 per sq.ft (2024)
• Rajeev Nagar: Rs 3,300 per sq.ft (2024)
• Raghupathy Street: Rs 1,960 per sq.ft (2024)
• Rajiv Gandhi 1 To 7 Streets: Rs 3,300 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 2,750 per sq.ft (2024)
• Rajiv Nagar 1 To 3 Street: Rs 3,300 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration fee would be Rs 2,47,500. It is important to note that the 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?

The Sub Registrar Office that covers Rajaji Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Nanmangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for legal ownership transfer. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 88 per sq.ft in 2002 and reaching Rs 2,750 per sq.ft in 2024, marking an overall increase of 3025%.

What is the land classification for Rajaji Street?

Rajaji Street is classified as Residential Class I Type - I under the Pallavaram SRO.

What are the stamp duty and registration fees for property in Rajaji Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000, leading to a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Rajaji Street located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.