Guideline Value for Rajamangalam 2nd Street

Rajamangalam 2nd Street guideline value

The current guideline value of Rajamangalam 2nd Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Rajamangalam 2nd Street has changed

The guideline value for Rajamangalam 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 221 per sq.ft. This increased to Rs 240 per sq.ft in 2003, marking a 9% rise. The value then saw a significant jump to Rs 700 per sq.ft in 2007, which represents a 192% increase. In 2012, the guideline value was Rs 3,500 per sq.ft, showing a substantial increase of 400% from the previous revision. However, in 2017, it dropped to Rs 2,345 per sq.ft, reflecting a decrease of 33%.

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

Guideline values in Konnur

Konnur village has 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median of Rs 3,800 per sq.ft. Rajamangalam 2nd Street's 2024 figure aligns with this median.

• Rajamangalam 1st 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 2nd 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 fees to Rs 3,42,000. 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 details.

Which Sub Registrar Office covers Rajamangalam 2nd Street?

The Sub Registrar Office that covers Rajamangalam 2nd Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Konnur. It serves as a benchmark for determining the minimum value of a property, which is essential for calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is registered at a fair value, helping to prevent undervaluation. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Rajamangalam 2nd Street?

The current guideline value of Rajamangalam 2nd 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 changed from Rs 221 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 1619% over this period.

What is the land classification for Rajamangalam 2nd Street?

Rajamangalam 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the registration fees for property in Rajamangalam 2nd Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.