Guideline Value for Rajaji Street

Rajaji Street guideline value

The current guideline value of Rajaji Street in Molachoor village, under the Sunguvarchattram SRO, is Rs 600 per sq.ft, effective from 1 July 2024. This street falls under the land classification of Residential Special Type - III.

How the guideline value of Rajaji Street has changed

Over the years, the guideline value of Rajaji Street has seen several revisions. The earliest recorded figure is from 2007, when the guideline value was Rs 60 per sq.ft. This figure increased significantly to Rs 600 per sq.ft in 2012, marking a substantial rise of 900%. However, from 2012 to 2017, the value decreased by 33% to Rs 402 per sq.ft. The subsequent revisions in 2023 and 2024 saw the value stabilize at Rs 600 per sq.ft, indicating no change between these two years.

In summary, the guideline value has increased from Rs 60 per sq.ft in 2007 to Rs 600 per sq.ft in 2024, representing an overall increase of 900% over this period. Notably, there are no recorded figures for the years 2002 and 2003 in the register for this street.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a guideline value for 2024, ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, which aligns with the guideline value of Rajaji Street.

• Rajiv Gandhi Street: Rs 600 per sq.ft (2024)
• Punitha Thomaiyar Street: Rs 600 per sq.ft (2024)
• Punitha Therasa Street: Rs 600 per sq.ft (2024)
• Punitha Susaiappar Street: Rs 600 per sq.ft (2024)
• Punitha Saveriyar Street: Rs 600 per sq.ft (2024)
• Punitha SagayaMatha Street: Rs 800 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 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Molachoor, the guideline value is a crucial factor that determines the stamp duty and registration fees. This value is established by the Registration Department and serves as a benchmark for transactions in the area.

During the registration process, the guideline value is compared to the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 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 60 per sq.ft in 2007 to Rs 600 per sq.ft in 2024, with various changes in between, including a decrease to Rs 402 per sq.ft in 2017.

What is the land classification for Rajaji Street?

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

Where can I find the Sub Registrar Office for Rajaji Street?

The Sub Registrar Office for Rajaji Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Molachoor?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 6,00,000, the stamp duty would be 7% of that amount.