Guideline Value for Rajammal Avenue

Rajammal Avenue guideline value

The current guideline value of Rajammal Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Rajammal Avenue has changed

The guideline value for Rajammal Avenue has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, reflecting a 400% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, marking a drop of 33%. The value increased again to Rs 2,000 per sq.ft in 2023, and most recently, it has been revised to Rs 2,200 per sq.ft in 2024, a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that Rajammal Avenue's 2024 figure is below this median.

• Raja Nagar Lay out: Rs 1,320 per sq.ft (2024)
• Rajarathinam Street: Rs 2,200 per sq.ft (2024)
• Rajaji Street 3rd Land: Rs 4,400 per sq.ft (2024)
• Rajaji Street 2nd Lane: Rs 4,400 per sq.ft (2024)
• Rajaji Street 1st Lane: Rs 4,400 per sq.ft (2024)
• Rajaji Road/Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajammal Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajammal Avenue?

The Rajammal Avenue falls under 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 Tambaram

The guideline value is a crucial factor when registering property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

When a property is sold, the transaction must be registered at the Sub Registrar Office, and the guideline value is used to calculate the taxes owed. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for tax calculations.

Frequently asked questions

What is the current guideline value of Rajammal Avenue?

The current guideline value of Rajammal Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification for Rajammal Avenue?

Rajammal Avenue is classified as Residential Class I Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Rajammal Avenue?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers Rajammal Avenue?

The Tambaram Joint 1 Sub Registrar Office covers Rajammal Avenue, located at No.26, Mes Road, East Tambaram, Chennai-600059.