Guideline Value for Rajammal Street

Rajammal Street guideline value

The current guideline value of Rajammal Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village, under the AnnaNagar SRO, and is classified as Residential Class II Type - II.

How the guideline value of Rajammal Street has changed

The guideline value of Rajammal Street has seen several revisions over the years. Starting from Rs 650 per sq.ft in 2002, the value increased significantly to Rs 1,200 per sq.ft in 2007, marking an increase of 85%. The value then rose to Rs 4,000 per sq.ft in 2012, reflecting a remarkable increase of 233%. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 set the value at Rs 4,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 4,400 per sq.ft, a 10% increase.

The register has no figure for Rajammal Street in 2003. Overall, from 2002 to 2024, the guideline value has increased by 577%.

Guideline values in Aminjikarai

Aminjikarai village has a total of 99 streets under the AnnaNagar SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current value of Rajammal Street.

• Ramaiah Street: Rs 5,500 per sq.ft (2024)
• Pulla Avenue: Rs 16,500 per sq.ft (2024)
• Prasanna Vinayagar Koil Street: Rs 4,400 per sq.ft (2024)
• Poonamallee High Road (Mangaliamman Koil to Sakywalk): Rs 16,500 per sq.ft (2024)
• Ponnuvel Thottam: Rs 11,000 per sq.ft (2024)
• Perumal Koil Street (Residential): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rajammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total fees Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Rajammal Street?

The Sub Registrar Office that covers Rajammal Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Aminjikarai. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements for property transactions.

When a property is sold, the guideline value is considered the minimum value for calculating taxes and fees. This means that even if the sale price is lower than the guideline value, the higher guideline value will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Rajammal Street?

The current guideline value of Rajammal Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 650 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 577% over this period.

What are the stamp duty and registration fees for properties on Rajammal Street?

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,96,000, based on the guideline value of Rs 44,00,000.

Which office handles the registration for Rajammal Street?

The registration for Rajammal Street is handled by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as the minimum value for these calculations, ensuring that buyers and sellers comply with legal requirements.