Guideline Value for Rajaji Street

Rajaji Street guideline value

The current guideline value of Rajaji Street in Perungalathur village, under the Padappai SRO, is Rs 2,640 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Rajaji Street has changed

The guideline value for Rajaji Street has seen several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 2,400 per sq.ft in 2012, marking a remarkable rise of 700%. However, it dropped to Rs 1,608 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 2,400 per sq.ft in 2023, and finally, it increased to Rs 2,640 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 780%. The changes between the revisions indicate a fluctuating trend, with significant increases and a notable decrease in the years between 2012 and 2017.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,310 per sq.ft, placing Rajaji Street's 2024 figure above this median.

• Rajamanickam Theru: Rs 2,640 per sq.ft (2024)
• Rajammal Nagar: Rs 1,980 per sq.ft (2024)
• Raja Nagar: Rs 1,980 per sq.ft (2024)
• Raja Rajessari Nagar: Rs 2,640 per sq.ft (2024)
• Ragavendra Theru: Rs 2,310 per sq.ft (2024)
• Ragavendra Nagar Extn.: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street

For a 1,000 sq.ft plot at the current rate of Rs 2,640 per sq.ft, the guideline value amounts to Rs 26,40,000. The stamp duty, charged at 7%, would be Rs 1,84,800, while the registration fee at 2% would be Rs 52,800. The total cost for these fees would be Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Perungalathur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

Buyers and sellers must be aware that the guideline value may differ from the sale price. The duty is charged based on the higher of the two values, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, with significant fluctuations including a drop to Rs 1,608 per sq.ft in 2017.

What is the median guideline value in Perungalathur?

The median guideline value in Perungalathur is Rs 2,310 per sq.ft, with Rajaji Street's 2024 figure being above this median.

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

For a property valued at Rs 26,40,000, the stamp duty would be Rs 1,84,800 and the registration fee would be Rs 52,800, totaling Rs 2,37,600.

Where is the Sub Registrar Office for Rajaji Street located?

The Padappai Sub Registrar Office, which covers Rajaji Street, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.