Guideline Value for Rajamangalam 7th Street

Rajamangalam 7th Street guideline value

The current guideline value of Rajamangalam 7th 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 falls under the Residential Class II Type - I land classification.

How the guideline value of Rajamangalam 7th Street has changed

The guideline value for Rajamangalam 7th 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, followed by a sharp increase to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value increased again to Rs 3,500 per sq.ft in 2023 before reaching the current value of Rs 3,800 per sq.ft in 2024.

Between the revisions, the most notable changes include a 400% increase from 2007 to 2012, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,619%.

Guideline values in Konnur

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

• Rajamangalam 6th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 8th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 5th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 4th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam Prathana Salai: Rs 5,500 per sq.ft (2024)
• Rajamangalam 3rd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamangalam 7th 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 be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to 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 7th Street?

The Sub Registrar Office that covers Rajamangalam 7th Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, in the Chennai registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Konnur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. The guideline value is set by the government and reflects the minimum value at which a property can be registered.

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 government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajamangalam 7th Street?

The current guideline value of Rajamangalam 7th 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 increased from Rs 221 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 1,619% over the years.

What is the land classification for Rajamangalam 7th Street?

Rajamangalam 7th Street falls under the Residential Class II Type - I land classification.

What are the stamp duty rates for properties in Rajamangalam 7th Street?

The stamp duty for properties in Rajamangalam 7th Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Rajamangalam 7th Street located?

The Sub Registrar Office for Rajamangalam 7th Street is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.