Guideline Value for Rajaji Street

Rajaji Street guideline value

The current guideline value of Rajaji Street in Peerklankaranai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Rajaji Street has changed

Over the years, the guideline value of Rajaji Street has seen several revisions. In 2012, the guideline value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decline of 33%. However, from 2017 to 2023, the value increased by 49%. The latest revision from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Rajaji Street's 2024 figure above this median.

• RajiGandhi Cross St: Rs 880 per sq.ft (2024)
• RajivGandhi St: Rs 2,200 per sq.ft (2024)
• Rajkamal 2nd Cross st: Rs 1,650 per sq.ft (2024)
• Rajkamal cement Road: Rs 1,650 per sq.ft (2024)
• Rajkamal Cross Street: Rs 1,650 per sq.ft (2024)
• Rajkamal Street: Rs 1,650 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is an essential factor when buying or selling property in Peerklankaranai. It serves as the minimum value for registration purposes, ensuring that the property is registered at a value that reflects its market worth according to the government.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these charges are based on the higher of the guideline value or the sale price, ensuring that the government receives 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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the other streets in Peerklankaranai with their guideline values?

Other streets in Peerklankaranai include RajiGandhi Cross St at Rs 880 per sq.ft, RajivGandhi St at Rs 2,200 per sq.ft, and several Rajkamal streets at Rs 1,650 per sq.ft.

What is the registration fee for properties in Rajaji Street?

The registration fee for properties in Rajaji Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the registration fee at 2% would be Rs 44,000.

Where is the Sub Registrar Office for Rajaji Street located?

The Sub Registrar Office for Rajaji Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.