Guideline Value for Rajamangalam 5th Street

Rajamangalam 5th Street guideline value

The current guideline value of Rajamangalam 5th 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 5th Street has changed

The guideline value for Rajamangalam 5th 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 change of +9%. The value then rose significantly to Rs 700 per sq.ft in 2007, a change of +192%. In 2012, it was revised to Rs 3,500 per sq.ft, representing an increase of +400%. However, the value dropped to Rs 2,345 per sq.ft in 2017, a decline of -33%. The most recent revisions show that the value increased to Rs 3,500 per sq.ft in 2023 and further to Rs 3,800 per sq.ft in 2024, which is a change of +9%.

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

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 guideline value is Rs 3,800 per sq.ft, and Rajamangalam 5th Street's 2024 figure matches this median.

• Rajamangalam 4th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 6th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 3rd Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 7th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 2nd Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 8th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamangalam 5th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, making the total 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajamangalam 5th Street?

The Sub Registrar Office that covers Rajamangalam 5th Street is the Konnur Sub Registrar Office, located at 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 serves as a reference point 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 compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the correct amounts are paid to the authorities.

Frequently asked questions

What is the current guideline value of Rajamangalam 5th Street?

The current guideline value of Rajamangalam 5th 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, showing an overall increase of +1619% over the years.

What is the land classification for Rajamangalam 5th Street?

Rajamangalam 5th Street is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property in Rajamangalam 5th Street?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000, and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Where can I find the Sub Registrar Office for Rajamangalam 5th Street?

The Konnur Sub Registrar Office, which covers Rajamangalam 5th Street, is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.