Guideline Value for Rajalingam Street

Rajalingam Street guideline value

The current guideline value of Rajalingam Street in Pammal village, under the Pammal SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

How the guideline value of Rajalingam Street has changed

The guideline value for Rajalingam Street has seen significant changes over the years. In 2002, the value was Rs 100 per sq.ft, which increased to Rs 113 per sq.ft in 2003, marking a 13% rise. The value then jumped to Rs 260 per sq.ft in 2007, reflecting a substantial increase of 130%. By 2017, the guideline value reached Rs 1,072 per sq.ft, indicating a remarkable 312% increase from the previous revision. The latest revision in 2024 has set the value at Rs 1,760 per sq.ft, which is a 64% increase from 2017.

It is important to note that the register has no figures for the years 2012 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by an impressive 1660%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as per the 2024 revision. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing Rajalingam Street's 2024 figure below this median.

• Rajalingam Street, V.O.C Nagar: Rs 2,750 per sq.ft (2024)
• Rajalakshmi Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Rajamanickam Street, Indira Nagar: Rs 1,980 per sq.ft (2024)
• Rajamanickam Street / Meenakshi Nagar: Rs 1,760 per sq.ft (2024)
• Rajamani Street: Rs 1,760 per sq.ft (2024)
• Rajaji Street / VOC Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total cost for these fees Rs 1,58,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajalingam Street?

The Sub Registrar Office that covers Rajalingam Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Pammal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

During the registration process, the guideline value helps in establishing the official value of the property, which is crucial for legal documentation and taxation purposes. Buyers and sellers should be aware of the current guideline value to make informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Rajalingam Street?

The current guideline value of Rajalingam Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 100 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 1660%.

What are the other streets in Pammal with their guideline values?

Other streets in Pammal have varying guideline values, with some streets like Rajalingam Street, V.O.C Nagar and Rajalakshmi Street / VOC Nagar both valued at Rs 2,750 per sq.ft in 2024.

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

The stamp duty for a property on Rajalingam Street is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,58,400.

Which office handles the registration for Rajalingam Street?

The Pammal Sub Registrar Office handles the registration for Rajalingam Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.