Guideline Value for Rajaji Street

Rajaji Street guideline value

The current guideline value of Rajaji Street in Ullagaram village, under the Alandur SRO, is Rs 2,200 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 undergone several revisions over the years. In 2002, the guideline value was Rs 172 per sq.ft. This figure increased to Rs 193 per sq.ft in 2003, marking a change of +12%. The value saw a significant rise to Rs 1,000 per sq.ft in 2007, which was an increase of +418%. In 2012, the value adjusted to Rs 2,000 per sq.ft, reflecting a decrease of -33% from the previous revision. The guideline value then rose to Rs 1,340 per sq.ft in 2017, which was a +49% increase. The most recent revision in 2023 set the value at Rs 2,000 per sq.ft, and the current value as of 2024 is Rs 2,200 per sq.ft, showing a +10% increase.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. Rajaji Street's 2024 figure is below this median.

• Rajamani First Cross Street: Rs 2,800 per sq.ft (2024)
• Rajamani Street Main: Rs 2,800 per sq.ft (2024)
• Rajagopal Street: Rs 2,800 per sq.ft (2024)
• Rajagopalan Cross Street: Rs 2,800 per sq.ft (2024)
• Rajarajeshwari Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Rajarathinam 1st Cross Street: Rs 3,900 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 would be 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 cost for these fees to Rs 1,98,000. 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ullagaram. It serves as a benchmark for determining the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the transaction is in accordance with government regulations.

When a property is sold, the sale price must be compared to the guideline value. The higher of the two is used to calculate the applicable fees. This ensures that the property is valued fairly in accordance with the established guidelines.

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 172 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1179% over the years.

What is the land classification for Rajaji Street?

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

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

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

The Sub Registrar Office for Rajaji Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.