Guideline Value for Rajaji Street

Rajaji Street guideline value

The current guideline value of Rajaji Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Rajaji Street has changed

The guideline value for Rajaji Street has undergone several revisions over the years. In 2003, the guideline value was Rs 554 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a change of +44%. The value remained unchanged at Rs 3,000 per sq.ft from 2012 until 2023, when it increased to Rs 3,300 per sq.ft, reflecting a +10% change. The most recent revision, effective from 1 July 2024, maintains the guideline value at Rs 3,300 per sq.ft.

There are no figures available for the years 2017 and 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by +496%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Rajaji Street.

• Rajaji Cross Street: Rs 3,300 per sq.ft (2024)
• Raja Joseph Colony: Rs 3,300 per sq.ft (2024)
• Railway Colony: Rs 3,520 per sq.ft (2024)
• Rajapazham Colony Street: Rs 3,300 per sq.ft (2024)
• Rajarajan Street: Rs 3,300 per sq.ft (2024)
• Rajaram 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is registered at a fair value, reflecting the current market conditions as set by the Registration Department. Buyers and sellers must be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 554 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, showing an overall increase of +496%.

What is the land classification of Rajaji Street?

Rajaji Street is classified as Residential Class I Type - II.

Where is the Pallavaram Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Rajaji Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.