Guideline Value for Rajalakshmi Street(Rajammal nagar)

Rajalakshmi Street(Rajammal nagar) guideline value

The current guideline value of Rajalakshmi Street (Rajammal nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Rajalakshmi Street(Rajammal nagar) has changed

The guideline value for Rajalakshmi Street (Rajammal nagar) has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 200% rise. However, there was a decline to Rs 804 per sq.ft in 2017, a decrease of 33%. The value then rose sharply to Rs 1,200 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

In summary, the guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, which is an overall increase of 225%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value is Rs 1,300 per sq.ft, which is equal to the 2024 figure for Rajalakshmi Street (Rajammal nagar).

• Rajammal Nagar: Rs 1,300 per sq.ft (2024)
• Raghavan Salai(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Raghavan Cross Street(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Prasanthi Avenue: Rs 1,700 per sq.ft (2024)
• Pound Street: Rs 880 per sq.ft (2024)
• Pound Cross Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalakshmi Street(Rajammal nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajalakshmi Street(Rajammal nagar)?

The Sub Registrar Office that covers Rajalakshmi Street (Rajammal nagar) 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 Ayappakkam

The guideline value is a crucial factor when buying or selling property in Ayappakkam. It determines the minimum value at which property transactions are registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

Frequently asked questions

What is the current guideline value of Rajalakshmi Street (Rajammal nagar)?

The current guideline value of Rajalakshmi Street (Rajammal nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with several revisions in between, including Rs 1,200 per sq.ft in 2012 and Rs 804 per sq.ft in 2017.

What is the land classification for Rajalakshmi Street (Rajammal nagar)?

The land classification for Rajalakshmi Street (Rajammal nagar) is Residential Class I Type - I. This classification is important for determining the usage and development potential of the land.

Where can I find the Sub Registrar Office for Rajalakshmi Street (Rajammal nagar)?

The Sub Registrar Office for Rajalakshmi Street (Rajammal nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is stamp duty calculated for property transactions in Rajalakshmi Street (Rajammal nagar)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 91,000 at 7%.