Guideline Value for Rajambal Colony

Rajambal Colony guideline value

The current guideline value of Rajambal Colony in Madambakkam village is Rs 2,400 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Commercial Class I Type - II.

How the guideline value of Rajambal Colony has changed

The guideline value for Rajambal Colony has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was again Rs 2,200 per sq.ft, but in 2024, it increased to Rs 2,400 per sq.ft, reflecting a 9% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, which matches the current guideline value of Rajambal Colony.

• Rajambal Colony 1st Street: 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

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 and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajambal Colony?

The Sub Registrar Office that covers Rajambal Colony 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 when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Rajambal Colony?

The current guideline value of Rajambal Colony 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 remained at Rs 2,200 per sq.ft from 2012 to 2023, before increasing to Rs 2,400 per sq.ft in 2024, reflecting a 9% increase from the previous year.

What is the land classification of Rajambal Colony?

Rajambal Colony is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the other streets in Madambakkam with the same guideline value?

Other streets in Madambakkam with the same guideline value of Rs 2,400 per sq.ft include Rajambal Colony 1st Street, Rajambal Colony 2nd Street, Rajambal Colony 3rd Street, Rajambal Colony 4th Street, Rajambal Nagar, and Rajambal Nagar 1st Cross Street.

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, within the Chengalpattu registration zone.