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 Perumbakkam village and falls under the Selaiyur SRO. The land classification for this area is 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. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 2,010 per sq.ft. However, the value increased significantly in the 2023 revision to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision.

The changes between the revisions indicate a +10% increase from 2023 to 2024, and a +49% increase from 2017 to 2023. Overall, from 2012 to 2024, there has been a +10% change in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value in this area is Rs 2,725 per sq.ft, placing Rajaji Street's 2024 value above this median.

• Rajendra Prasad Street: Rs 3,300 per sq.ft (2024)
• Radiance Mercury: Rs 2,725 per sq.ft (2024)
• Radiance Garnet: Rs 4,300 per sq.ft (2024)
• Radha Nagar Ambethkar Street: Rs 3,300 per sq.ft (2024)
• Radha Nagar 1st to 5th Main Road: Rs 3,300 per sq.ft (2024)
• Radha Nagar 1st to 14th Cross 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Perumbakkam

The guideline value plays a crucial role in property transactions in Perumbakkam. It serves as the minimum value for property registration and is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the transaction is recorded at a value that reflects the official guideline set by the government.

When selling property, the guideline value helps both buyers and sellers understand the baseline price for the property. It is essential for buyers to be aware of the guideline value to ensure they are making informed decisions and to avoid overpaying for a property.

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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Rajaji Street?

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

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties on 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.