Guideline Value for Rajammal Lane

Rajammal Lane guideline value

The current guideline value of Rajammal Lane is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class III Type - II.

How the guideline value of Rajammal Lane has changed

Over the years, the guideline value of Rajammal Lane has seen significant changes. In the 2002 revision, the value was Rs 454 per sq.ft, which increased to Rs 501 per sq.ft in 2003. The value then rose dramatically to Rs 1,000 per sq.ft in 2007, followed by a substantial increase to Rs 3,100 per sq.ft in 2012. However, it decreased to Rs 2,077 per sq.ft in 2017. The value then saw a sharp rise to Rs 3,100 per sq.ft in 2023 before reaching the current figure of Rs 3,400 per sq.ft in 2024.

The changes between the revisions reflect various increments and decrements. From 2017 to 2023, there was a 49% increase, while the jump from 2007 to 2012 was 210%. The overall change from 2002 to 2024 shows an increase of 649% in the guideline value for Rajammal Lane.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Rajammal Lane's 2024 figure below that median.

• Rajammal Street: Rs 3,400 per sq.ft (2024)
• RajaRathinam Street: Rs 13,400 per sq.ft (2024)
• RamaChandra Road: Rs 13,500 per sq.ft (2024)
• Pumping Station road: Rs 7,100 per sq.ft (2024)
• Pullapuram 9th lane: Rs 3,400 per sq.ft (2024)
• Pullapuram 8thane: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rajammal Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, totaling Rs 3,06,000. 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 details.

Which Sub Registrar Office covers Rajammal Lane?

The Sub Registrar Office covering Rajammal Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Egmore. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajammal Lane?

The current guideline value of Rajammal Lane is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 454 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 649%.

What is the land classification of Rajammal Lane?

Rajammal Lane is classified as Residential Class III Type - II under the Periamet SRO.

What are the stamp duty and registration fees for properties in Rajammal Lane?

For a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 and the registration fee would be Rs 68,000, totaling Rs 3,06,000.

Where is the Sub Registrar Office for Rajammal Lane located?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003, covering Rajammal Lane.