Guideline Value for Rajamangalam 4th Street

Rajamangalam 4th Street guideline value

The current guideline value of Rajamangalam 4th Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village and falls under the Konnur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajamangalam 4th Street has changed

The guideline value for Rajamangalam 4th Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was 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 increase to Rs 700 per sq.ft in 2007, which was a 192% jump. In 2012, the value was recorded again at Rs 3,500 per sq.ft, showing a substantial increase of 400% from the previous figure. However, this was followed by a decrease to Rs 2,345 per sq.ft in 2017, which represented a 33% drop. The value then rose to Rs 3,500 per sq.ft in 2023, and most recently, it has been set at Rs 3,800 per sq.ft in 2024, reflecting a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1619%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, which matches the current value for Rajamangalam 4th Street.

• Rajamangalam 3rd Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 5th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 2nd Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 6th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 1st 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000. Together, the total cost for duty and registration would be 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.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajamangalam 4th Street?

The Sub Registrar Office that covers Rajamangalam 4th Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more details, you can find your SRO.

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

The guideline value plays a crucial role during property registration in Konnur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The value ensures that the government collects the appropriate revenue based on the property's assessed worth.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is registered accurately and legally, reflecting the true value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Rajamangalam 4th Street?

The current guideline value of Rajamangalam 4th 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 significantly from Rs 221 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 1619% over the years.

What are the other streets in Konnur with the same guideline value?

Other streets in Konnur with the same guideline value of Rs 3,800 per sq.ft include Rajamangalam 1st Street, Rajamangalam 2nd Street, Rajamangalam 3rd Street, Rajamangalam 5th Street, Rajamangalam 6th Street, and Rajamangalam 7th Street.

What are the stamp duty and registration fees for properties in this area?

The stamp duty for properties in Rajamangalam 4th Street is 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 3,42,000 in fees.

Where is the Sub Registrar Office for Rajamangalam 4th Street located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. This office handles the registration of properties in Rajamangalam 4th Street.