Guideline Value for Rajamannar Salai (P.V)

Rajamannar Salai (P.V) guideline value

The current guideline value of Rajamannar Salai (P.V) is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, and the land classification is Mixed Type - I.

How the guideline value of Rajamannar Salai (P.V) has changed

The guideline value for Rajamannar Salai (P.V) has seen several revisions over the years. In 2007, the guideline value was Rs 2,120 per sq.ft. This increased significantly to Rs 8,000 per sq.ft in 2012, marking a 277% rise. However, it then decreased to Rs 5,360 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 8,000 per sq.ft in 2023, before reaching the current rate of Rs 8,800 per sq.ft in 2024, an increase of 10% from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 315%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median of Rs 4,900 per sq.ft. The guideline value of Rajamannar Salai (P.V) is above this median.

• Rajammbal Street Block 85: Rs 4,100 per sq.ft (2024)
• Rajaraja Cholan Street: Rs 3,300 per sq.ft (2024)
• Rajaji Street: Rs 3,300 per sq.ft (2024)
• Rajagopal Chetty Street: Rs 6,000 per sq.ft (2024)
• Rajagopalan Street Block 35: Rs 6,000 per sq.ft (2024)
• Rajabathar Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamannar Salai (P.V)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajamannar Salai (P.V)?

The Sub Registrar Office that covers Rajamannar Salai (P.V) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process of property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value plays a crucial role in calculating the costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall expenses of the transaction.

Frequently asked questions

What is the current guideline value of Rajamannar Salai (P.V)?

The current guideline value of Rajamannar Salai (P.V) is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 2,120 per sq.ft in 2007, rising to Rs 8,000 in 2012, dropping to Rs 5,360 in 2017, increasing to Rs 8,000 in 2023, and finally reaching Rs 8,800 in 2024.

What is the land classification for Rajamannar Salai (P.V)?

The land classification for Rajamannar Salai (P.V) is Mixed Type - I.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Rajamannar Salai (P.V)?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 6,16,000.