Guideline Value for Rajamangalam 8th Street

Rajamangalam 8th Street guideline value

The current guideline value of Rajamangalam 8th 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 8th Street has changed

The guideline value for Rajamangalam 8th 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. Following this, the value rose significantly to Rs 700 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023 before reaching the current rate of Rs 3,800 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was a 9% increase; from 2003 to 2007, the increase was 192%; from 2007 to 2012, there was a decrease of 33%; from 2012 to 2017, the value dropped by 33%; then a 49% increase occurred from 2017 to 2023; and finally, from 2023 to 2024, the increase was 9%. Overall, from 2002 to 2024, the guideline value has increased by 1,619%.

Guideline values in Konnur

In Konnur village, there are 249 streets under the Konnur SRO that have 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 8th Street.

• Rajamangalam 7th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam 6th Street: Rs 3,800 per sq.ft (2024)
• Rajamangalam Prathana Salai: Rs 5,500 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 3rd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamangalam 8th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the 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 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 also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Rajamangalam 8th Street?

The Sub Registrar Office that covers Rajamangalam 8th 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 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 assessed to ensure that the correct duties are charged. This helps maintain transparency and fairness in property transactions, ensuring that both buyers and sellers are aware of the financial implications involved.

Frequently asked questions

What is the current guideline value of Rajamangalam 8th Street?

The current guideline value of Rajamangalam 8th 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 are the stamp duty and registration fees for properties in Rajamangalam 8th 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.

Which office handles registrations for Rajamangalam 8th Street?

The Konnur Sub Registrar Office handles registrations for Rajamangalam 8th Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Rajamangalam 8th Street?

Rajamangalam 8th Street is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.