Guideline Value for Rajamannar Street

Rajamannar Street guideline value

The current guideline value of Rajamannar Street in Chitlapakkam village, under the Tambaram Joint 1 SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Rajamannar Street has changed

The guideline value for Rajamannar Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. However, this was reduced to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. The value then increased significantly to Rs 1,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, which represents a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Rajamannar Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of Rajamannar Street.

• Rajarajan St: Rs 1,100 per sq.ft (2024)
• Rajarajeswari Nagar: Rs 1,650 per sq.ft (2024)
• RajaRajeswari St: Rs 1,650 per sq.ft (2024)
• Rajaji St: Rs 1,100 per sq.ft (2024)
• Raja Street: Rs 1,100 per sq.ft (2024)
• Rajendra Cholan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamannar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajamannar Street?

The Sub Registrar Office that covers Rajamannar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is registered at a value that reflects the current market conditions.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajamannar Street?

The current guideline value of Rajamannar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Rajamannar Street?

Rajamannar Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for properties in Rajamannar Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,48,500.

Which office handles the registration of properties in Rajamannar Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration of properties in Rajamannar Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.