Guideline Value for Rajaji Street

Rajaji Street guideline value

The current guideline value of Rajaji Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Rajaji Street has changed

In the 2007 revision, the guideline value was set at Rs 800 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 275% rise. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, reflecting a 33% drop. The 2023 revision saw another increase to Rs 3,000 per sq.ft, followed by a further rise to Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figure for Rajaji Street in 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%. The changes between the revisions indicate fluctuations in the guideline value, with notable increases and decreases over the years.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of Rajaji Street is below this median.

• Rajamannar Salai (P.V): Rs 8,800 per sq.ft (2024)
• Rajammbal Street Block 85: Rs 4,100 per sq.ft (2024)
• Rajagopal Chetty Street: Rs 6,000 per sq.ft (2024)
• Rajagopalan Street Block 35: Rs 6,000 per sq.ft (2024)
• Rajabathar Street: Rs 4,100 per sq.ft (2024)
• Rajaraja Cholan Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajaji Street?

Rajaji Street falls under the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the government receives appropriate revenue through stamp duty. Buyers and sellers must consider this value to accurately calculate the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Rajaji Street has seen several changes, from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313% over the years.

What are the stamp duty rates for properties on Rajaji Street?

The stamp duty for properties on Rajaji Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, while Rajaji Street's current guideline value is below this median.