Guideline Value for Rajamanickam Street

Rajamanickam Street guideline value

The current guideline value of Rajamanickam Street in Menambedu village, under the Ambattur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Rajamanickam Street has changed

The guideline value for Rajamanickam Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which then dropped to Rs 1,072 per sq.ft in the 2017 revision. This was a decrease of 33%. However, the value rebounded significantly in the following years, rising to Rs 1,600 per sq.ft in 2023 and then to Rs 1,700 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 figure to the current 2024 value, there has been an increase of 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Rajamanickam Street is above this median.

• Raja Rajeswari Nagar: Rs 1,002 per sq.ft (2024)
• Rajaram Colony: Rs 1,001 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,300 per sq.ft (2024)
• Ramadas Street: Rs 1,300 per sq.ft (2024)
• Ramakrishna Nagar: Rs 1,002 per sq.ft (2024)
• Ramakrishnan Avenue: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamanickam Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajamanickam Street?

The Sub Registrar Office that covers Rajamanickam Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Menambedu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When you register a property, the guideline value helps determine the amount of tax payable, which is essential for both buyers and sellers. It ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Rajamanickam Street?

The current guideline value of Rajamanickam Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, a 6% increase. It was Rs 1,072 per sq.ft in 2017, indicating a significant increase of 49% by 2023.

What are the other streets with guideline values in Menambedu?

Other streets in Menambedu include Raja Rajeswari Nagar at Rs 1,002 per sq.ft, Rajaram Colony at Rs 1,001 per sq.ft, and Rajiv Gandhi Nagar at Rs 1,300 per sq.ft among others.

What is the stamp duty rate for properties in Rajamanickam Street?

The stamp duty rate for properties in Rajamanickam Street is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Rajamanickam Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.