Guideline Value for Rajamangalam 1st Street

Rajamangalam 1st Street guideline value

The current guideline value of Rajamangalam 1st Street in Konnur village, under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Rajamangalam 1st Street has changed

The guideline value for Rajamangalam 1st Street has seen several revisions over the years. In 2002, the value was Rs 221 per sq.ft, which increased to Rs 240 per sq.ft in 2003, marking a 9% rise. The value then rose significantly to Rs 800 per sq.ft in 2007, reflecting a 233% increase. By 2012, the value was recorded at Rs 3,500 per sq.ft, showing a substantial increase of 338% from the previous revision. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, indicating a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 3,500 per sq.ft, which is a 49% rise. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft, representing a 9% increase from the previous year. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value is Rs 3,800 per sq.ft, which is the same as the guideline value for Rajamangalam 1st Street.

• Rajamangalam 2nd Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 3rd Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 4th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 5th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 6th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 7th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamangalam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total cost for these fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajamangalam 1st Street?

The Sub Registrar Office covering Rajamangalam 1st Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Konnur. 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 registered, the guideline value is used to calculate the applicable charges, ensuring that the transaction is documented accurately in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of Rajamangalam 1st Street?

The current guideline value of Rajamangalam 1st Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 221 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 1619% since 2002.

What is the land classification for Rajamangalam 1st Street?

Rajamangalam 1st Street is classified under Residential Class II Type - I land classification.

Where can I find information about the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find more details by following the provided link.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 38,00,000, the total fees would amount to Rs 3,42,000.