Guideline Value for Rajamangalam 6th Street

Rajamangalam 6th Street guideline value

The current guideline value of Rajamangalam 6th 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 6th Street has changed

The guideline value for Rajamangalam 6th Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 221 per sq.ft. It increased to Rs 240 per sq.ft in 2003, marking a 9% rise. The following significant increase occurred in 2007 when the value jumped to Rs 700 per sq.ft, reflecting a 192% change. In 2012, the value rose to Rs 3,500 per sq.ft, which was a substantial 400% increase from the previous revision.

From 2012 to 2017, however, the guideline value decreased to Rs 2,345 per sq.ft, representing a 33% drop. The value then increased to Rs 3,500 per sq.ft in 2023, showing a 49% rise. The latest revision in 2024 set the value at Rs 3,800 per sq.ft, which is a 9% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 1,619%.

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 for these streets is Rs 3,800 per sq.ft, which is the same as the guideline value for Rajamangalam 6th Street.

• Rajamangalam 5th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 7th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 4th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 8th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 3rd Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 2nd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamangalam 6th 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, while the registration fee at 2% would be Rs 76,000. Together, the total cost for stamp 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajamangalam 6th Street?

The Sub Registrar Office that covers Rajamangalam 6th 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 details.

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

The guideline value is a crucial factor during property registration in Konnur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps establish a fair basis for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Rajamangalam 6th Street?

The current guideline value of Rajamangalam 6th 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 1,619% over this period.

What are the stamp duty and registration fees for property in Rajamangalam 6th 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 is the Konnur Sub Registrar Office located?

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

What is the land classification for Rajamangalam 6th Street?

The land classification for Rajamangalam 6th Street is Residential Class II Type - I.