Guideline Value for Rajaji Street

Rajaji Street guideline value

The current guideline value of Rajaji Street in Kovilpathagai village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class II Type - I.

How the guideline value of Rajaji Street has changed

Over the years, the guideline value for Rajaji Street has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in the 2023 revision, and then to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, when considering the period from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

In Kovilpathagai, a total of 278 streets under the Ambattur SRO have a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, placing Rajaji Street's 2024 figure above this median.

• Rajenderan Street: Rs 880 per sq.ft (2024)
• Rajeswari Nagar: Rs 803 per sq.ft (2024)
• Rajivgandhi Nagar: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 1st Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 2nd Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 3rd Street: Rs 806 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When engaging in a property transaction, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Rajaji Street?

Rajaji Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Rajaji Street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office covers the registration for Rajaji Street?

The Ambattur Sub Registrar Office covers the registration for Rajaji Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.