Guideline Value for Rajammal Street

Rajammal Street guideline value

The current guideline value of Rajammal Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Rajammal Street has changed

The guideline value for Rajammal Street has undergone several revisions over the years. In 2002, the value was Rs 1,285 per sq.ft, which increased to Rs 1,403 per sq.ft in 2003, marking a 9% rise. The value continued to rise, reaching Rs 1,800 per sq.ft in 2007, which was a 28% increase from the previous revision. However, in 2012, the value dropped to Rs 3,500 per sq.ft, a decrease of 94% from the 2007 figure.

In subsequent revisions, the guideline value saw significant changes. The 2017 revision set the value at Rs 2,345 per sq.ft, which was a 33% decrease from 2012. The value then increased to Rs 3,500 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, an increase of 10% from the previous year.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Rajammal Street's 2024 value below this median.

• Rajangam Mathya Veedhi: Rs 2,750 per sq.ft (2024)
• Rajalakshmi Avenue: Rs 4,950 per sq.ft (2024)
• Rajendra Colony: Rs 4,950 per sq.ft (2024)
• Rajeswari Street: Rs 4,400 per sq.ft (2024)
• P.V. Rajamannar Salai: Rs 7,140 per sq.ft (2024)
• Puviyathamman Koil Street: Rs 2,750 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration fee would be Rs 3,46,500. 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 more details.

Which Sub Registrar Office covers Rajammal Street?

The Sub Registrar Office that covers Rajammal Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Saligramam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from the transaction.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajammal Street?

The current guideline value of Rajammal Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,285 in 2002 to Rs 3,850 in 2024, reflecting an overall increase of 200% over the years.

What is the land classification for Rajammal Street?

Rajammal Street is classified as Residential Class II Type - II, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Rajammal Street?

The Sub Registrar Office for Rajammal Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 38,50,000, leading to a total cost of Rs 3,46,500 for stamp duty and registration fees.