Guideline Value for Rajaji Street

Rajaji Street guideline value

The current guideline value of Rajaji Street in Selaiyur village, under the Selaiyur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - II.

How the guideline value of Rajaji Street has changed

The guideline value for Rajaji Street has seen several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a substantial rise of 233%. However, the value then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. Following this, the value increased dramatically to Rs 1,500 per sq.ft in 2023, and further rose to the current rate of Rs 1,600 per sq.ft in 2024, reflecting a 7% increase.

There are no figures available for Rajaji Street in the revisions from 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 256%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Rajaji Street's current guideline value is below this median.

• Raja Iyer Street: Rs 1,600 per sq.ft (2024)
• Rajammal Duraisamy Street: Rs 1,600 per sq.ft (2024)
• Raja Rao Sahagib Street: Rs 1,600 per sq.ft (2024)
• Raja Rao Street: Rs 1,600 per sq.ft (2024)
• Raja Shaib Rao Street: Rs 1,600 per sq.ft (2024)
• Rajendra Nagar: Rs 1,600 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajaji Street?

Rajaji Street falls under the jurisdiction of the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value is a crucial factor in property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair price, which helps in maintaining transparency in the real estate market. It is advisable for buyers and sellers to be aware of the latest guideline values to make informed decisions.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 450 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 256%.

What are the stamp duty and registration fees for properties on Rajaji Street?

The stamp duty for a property on Rajaji Street is 7%, while the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 1,44,000.

Which office handles property registrations for Rajaji Street?

The Selaiyur Sub Registrar Office handles property registrations for Rajaji Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

Where can I find more information on guideline values in Selaiyur?

For more details on guideline values in Selaiyur, you can visit the Selaiyur SRO or check the official registration department's guideline value register.