Guideline Value for Rajammal Street

Rajammal Street guideline value

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

How the guideline value of Rajammal Street has changed

Since the 2002 revision, the guideline value for Rajammal Street has seen significant changes. In 2002, the guideline value was Rs 454 per sq.ft. This increased to Rs 501 per sq.ft in 2003, marking a 10% rise. The value then surged to Rs 1,000 per sq.ft in 2007, reflecting a 100% increase. The 2012 revision saw a substantial jump to Rs 3,100 per sq.ft, resulting in a 210% increase from the previous figure. However, the value dropped to Rs 2,077 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 3,100 per sq.ft, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,400 per sq.ft, which is a 10% increase from the previous year. The overall change from 2002 to 2024 reflects an increase of 649%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Rajammal Street's 2024 guideline value is below this median.

• Rajammal Lane: 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 Street

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, making the total cost for these fees Rs 3,06,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajammal Street?

The Sub Registrar Office that covers Rajammal Street 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 is a critical factor in the registration process when buying or selling property in Egmore. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that all transactions are fairly assessed according to the established rates.

Frequently asked questions

What is the current guideline value of Rajammal Street?

The current guideline value of Rajammal Street 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 from Rs 454 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 649% over the years.

What is the land classification of Rajammal Street?

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

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

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 Street located?

The Sub Registrar Office for Rajammal Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.