Guideline Value for Rajamani Street Main

Rajamani Street Main guideline value

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

How the guideline value of Rajamani Street Main has changed

The guideline value for Rajamani Street Main has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 223 per sq.ft. It then increased significantly to Rs 1,200 per sq.ft in 2007, followed by a rise to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision brought it back up to Rs 2,500 per sq.ft, and the latest revision in 2024 set it at Rs 2,800 per sq.ft. Notably, there is no figure available for the year 2002 in the register for this street.

In terms of percentage changes, the guideline value increased by 438% from 2003 to 2007, then saw a decline of 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and then increased by 12% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 1156%.

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 is Rs 2,800 per sq.ft, which is equal to the current figure for Rajamani Street Main.

• Rajamani First Cross Street: 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 Street Main

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, making the total charges 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajamani Street Main?

The Sub Registrar Office that covers Rajamani Street Main 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 buying or selling property in Ullagaram. It serves as a benchmark for determining the minimum value of a property during registration, ensuring that the transaction is recorded at a fair price as per government standards.

When registering a property, buyers and sellers must consider the guideline value to calculate applicable stamp duties and registration fees. This ensures compliance with legal requirements and helps in the proper documentation of the property transaction.

Frequently asked questions

What is the current guideline value of Rajamani Street Main?

The current guideline value of Rajamani Street Main 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 from Rs 223 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, with various increases and decreases across the years.

What is the land classification for Rajamani Street Main?

Rajamani Street Main is classified as Residential Class II Type - I.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Rajamani Street Main?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 at 7%.