Guideline Value for Rajamangalam 3rd Street

Rajamangalam 3rd Street guideline value

The current guideline value of Rajamangalam 3rd 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 3rd Street has changed

The guideline value for Rajamangalam 3rd 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. The value then rose significantly to Rs 700 per sq.ft in 2007, and further increased to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then rose again to Rs 3,500 per sq.ft in 2023, and finally reached Rs 3,800 per sq.ft in the 2024 revision.

Between the revisions, notable changes include a 9% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a 400% increase from 2007 to 2012. The value saw a decrease of 33% from 2012 to 2017, and increases of 192% from 2003 to 2007 and 9% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1619%.

Guideline values in Konnur

In Konnur village, 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 for these streets is Rs 3,800 per sq.ft, which is equal to the current guideline value of Rajamangalam 3rd Street.

• Rajamangalam 2nd Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 4th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 1st 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 3rd 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 3rd Street?

The Sub Registrar Office that covers Rajamangalam 3rd 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 is a crucial factor in the registration process when buying or selling property in Konnur. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately for legal purposes.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajamangalam 3rd Street?

The current guideline value of Rajamangalam 3rd 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, with various increases and decreases in between.

What is the land classification for Rajamangalam 3rd Street?

Rajamangalam 3rd Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Rajamangalam 3rd Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 3,42,000.

Which office handles the registration for Rajamangalam 3rd Street?

The Konnur Sub Registrar Office handles the registration for Rajamangalam 3rd Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.