Guideline Value for Rajambal Colony 1st Street

Rajambal Colony 1st Street guideline value

The current guideline value of Rajambal Colony 1st Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Rajambal Colony 1st Street has changed

The guideline value for Rajambal Colony 1st Street has seen revisions over the years. The oldest available revision is from 2012, where the guideline value was Rs 2,200 per sq.ft. In the 2024 revision, the value increased to Rs 2,400 per sq.ft, marking a change of +9% from the 2012 figure. It is important to note that the register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

With the 2024 revision, Rajambal Colony 1st Street's guideline value aligns with the median value of Rs 2,400 per sq.ft for other streets in Madambakkam. The increase from the 2012 revision indicates a steady adjustment in property values for this area.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, and Rajambal Colony 1st Street's 2024 figure matches this median. Below are the guideline values for other streets in Madambakkam:

• Rajambal Colony: Rs 2,400 per sq.ft (2024)
• Rajambal Colony 2nd Street: Rs 2,400 per sq.ft (2024)
• Rajambal Colony 3rd Street: Rs 2,400 per sq.ft (2024)
• Rajambal Colony 4th Street: Rs 2,400 per sq.ft (2024)
• Rajambal Nagar: Rs 2,400 per sq.ft (2024)
• Rajambal Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rajambal Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajambal Colony 1st Street?

The Sub Registrar Office that covers Rajambal Colony 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the fees are calculated based on a standardized value, reflecting the market conditions.

When a buyer or seller engages in a property transaction, the guideline value is assessed to ensure compliance with local regulations. It is essential to be aware of the current guideline value to understand the financial obligations associated with the property transaction.

Frequently asked questions

What is the current guideline value of Rajambal Colony 1st Street?

The current guideline value of Rajambal Colony 1st Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 2,400 per sq.ft in 2024, reflecting a +9% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the land classification for Rajambal Colony 1st Street?

The land classification for Rajambal Colony 1st Street is Commercial Class I Type - II, indicating its intended use for commercial purposes.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000, and the registration fee would be Rs 48,000, totaling Rs 2,16,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in the area.