Guideline Value for Rajamanickam Street, Indira Nagar

Rajamanickam Street, Indira Nagar guideline value

The current guideline value of Rajamanickam Street, Indira Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO, with a land classification of Residential Class II Type - II.

How the guideline value of Rajamanickam Street, Indira Nagar has changed

The guideline value for Rajamanickam Street has undergone significant changes over the years. The earliest recorded revision is from 2017, which set the value at Rs 1,206 per sq.ft. The most recent revision in 2024 increased this value to Rs 1,980 per sq.ft, marking a change of +64% from the 2017 figure.

There are no recorded guideline values for Rajamanickam Street for the years 2002, 2003, 2007, 2012, and 2023. This lack of data indicates that the street did not have a specified guideline value during those revisions.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Rajamanickam Street's 2024 value below this median.

• Rajamanickam Street / Meenakshi Nagar: Rs 1,760 per sq.ft (2024)
• Rajalingam Street, V.O.C Nagar: Rs 2,750 per sq.ft (2024)
• Rajamani Street: Rs 1,760 per sq.ft (2024)
• Rajalingam Street: Rs 1,760 per sq.ft (2024)
• Rajalakshmi Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Rajaji Street / VOC Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamanickam Street, Indira Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers Rajamanickam Street, Indira Nagar?

The Sub Registrar Office that covers Rajamanickam Street, Indira Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Rajamanickam Street, Indira Nagar?

The current guideline value of Rajamanickam Street, Indira Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking a change of +64%.

Are there any years without a guideline value for this street?

Yes, there are no recorded guideline values for Rajamanickam Street for the years 2002, 2003, 2007, 2012, and 2023.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, which is above the current value of Rajamanickam Street.

Where can I find the Sub Registrar Office for Rajamanickam Street?

The Sub Registrar Office for Rajamanickam Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.