Guideline Value for Rajamanikam Street (L.R.) (Balaji Nagar)

Rajamanikam Street (L.R.) (Balaji Nagar) guideline value

The current guideline value of Rajamanikam Street (L.R.) (Balaji Nagar) is Rs 2,350 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village and falls under the Pammal SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Rajamanikam Street (L.R.) (Balaji Nagar) has changed

The guideline value for Rajamanikam Street (L.R.) (Balaji Nagar) has seen significant changes over the years. In 2003, the value was Rs 216 per sq.ft, which increased to Rs 300 per sq.ft in 2007, marking a 39% rise. The value further surged to Rs 1,407 per sq.ft in 2017, reflecting a remarkable increase of 369%. By the 2023 revision, the guideline value reached Rs 2,099 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 2,350 per sq.ft, representing a 12% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 988%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO, with guideline values ranging from Rs 1,320 to Rs 4,640 per sq.ft as of 2024. The median guideline value in this area is Rs 1,980 per sq.ft, placing Rajamanikam Street (L.R.) (Balaji Nagar) above this median.

• Rajaji Salai(karikalan nagar): Rs 2,860 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,350 per sq.ft (2024)
• Rajiv Gandhi Sreet (Balaji Nagar): Rs 2,350 per sq.ft (2024)
• Ragavendra Koil Street: Rs 1,980 per sq.ft (2024)
• RAGAVENDIRA SALAI 1st CROSS STREET: Rs 4,640 per sq.ft (2024)
• Ramalingaswamy Madham Street: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamanikam Street (L.R.) (Balaji Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total guideline value would be Rs 23,50,000. The stamp duty at 7% would amount to Rs 1,64,500, while the registration fee at 2% would be Rs 47,000. Together, the total cost for these fees would be Rs 2,11,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajamanikam Street (L.R.) (Balaji Nagar)?

The Sub Registrar Office that covers Rajamanikam Street (L.R.) (Balaji 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 additional information.

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

The guideline value is a crucial factor when registering property transactions in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajamanikam Street (L.R.) (Balaji Nagar)?

The current guideline value of Rajamanikam Street (L.R.) (Balaji Nagar) is Rs 2,350 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 216 per sq.ft in 2003 to Rs 2,350 per sq.ft in 2024, reflecting an overall increase of 988%.

What is the land classification for Rajamanikam Street (L.R.) (Balaji Nagar)?

Rajamanikam Street (L.R.) (Balaji Nagar) is classified as Residential Class III Type - I.

Where can I find the registration office for this street?

The registration office for Rajamanikam Street (L.R.) (Balaji Nagar) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Anakaputhur?

Stamp duty for properties in Anakaputhur is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.