Guideline Value for Rajamani First Cross Street

Rajamani First Cross Street guideline value

The current guideline value of Rajamani First Cross Street, located in Ullagaram village under the Alandur SRO, is Rs 2,800 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Rajamani First Cross Street has changed

The guideline value for Rajamani First Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 156 per sq.ft. This increased significantly to Rs 175 per sq.ft in 2003, marking a change of +12%. The value continued to rise dramatically, reaching Rs 1,200 per sq.ft in 2007, which was a substantial increase of +586%. However, from 2007 to 2012, the value decreased to Rs 2,500 per sq.ft, reflecting a decline of -33%.

In the following years, the guideline value fluctuated again. The 2017 revision set the value at Rs 1,675 per sq.ft, which was an increase of +49% from the previous revision. The most recent revision in 2023 brought the value up to Rs 2,500 per sq.ft, and finally, the current value as of 2024 is Rs 2,800 per sq.ft, showing an increase of +12% from 2023. There are no figures available for any other years for this street in the register.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is the same as the current value for Rajamani First Cross Street. Below are some other streets in Ullagaram:

• Rajamani Street Main: Rs 2,800 per sq.ft (2024)
• Rajarajeshwari Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Rajaji Street: Rs 2,200 per sq.ft (2024)
• Rajarathinam 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Rajarathinam 1st Street: Rs 3,900 per sq.ft (2024)
• Rajarathinam 2nd Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamani First Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajamani First Cross Street?

The Sub Registrar Office that covers Rajamani First Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with the legal requirements of property transactions.

When a property is sold, the guideline value is used to assess the applicable taxes, ensuring that both parties are aware of the financial obligations involved. It is essential to verify the current guideline value before proceeding with any property transaction to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Rajamani First Cross Street?

The current guideline value for Rajamani First Cross Street is Rs 2,800 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 156 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +1695% over the years.

What is the land classification for Rajamani First Cross Street?

Rajamani First Cross Street is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Where can I find the Sub Registrar Office for Rajamani First Cross Street?

The Sub Registrar Office for Rajamani First Cross Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.