Guideline Value for Rajammbal Street Block 85

Rajammbal Street Block 85 guideline value

The current guideline value of Rajammbal Street Block 85 is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Rajammbal Street Block 85 has changed

The guideline value for Rajammbal Street Block 85 has undergone several revisions over the years. In 2007, the guideline value was set at Rs 800 per sq.ft. This figure saw a significant increase to Rs 3,750 per sq.ft in 2012, marking a growth of 369%. However, by 2017, the value decreased to Rs 2,512 per sq.ft, a drop of 33%. The value then rose sharply to Rs 3,750 per sq.ft in 2023, which was a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 4,100 per sq.ft, reflecting a 9% increase from 2023.

It is important to note that the register does not have figures for Rajammbal Street Block 85 for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, making the 2024 figure for Rajammbal Street Block 85 below this median.

• Rajamannar Salai (P.V): Rs 8,800 per sq.ft (2024)
• Rajaraja Cholan Street: Rs 3,300 per sq.ft (2024)
• Rajaji Street: Rs 3,300 per sq.ft (2024)
• Rajagopal Chetty Street: Rs 6,000 per sq.ft (2024)
• Rajagopalan Street Block 35: Rs 6,000 per sq.ft (2024)
• Rajeev Gandhi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajammbal Street Block 85

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, totaling Rs 3,69,000. 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 detailed calculations.

Which Sub Registrar Office covers Rajammbal Street Block 85?

The Sub Registrar Office that covers Rajammbal Street Block 85 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Rajammbal Street Block 85?

The current guideline value of Rajammbal Street Block 85 is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rajammbal Street Block 85 has changed from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, showing an overall increase of 413% over the years.

What are the stamp duty and registration fees for properties here?

For a property valued at the current guideline value of Rs 4,100 per sq.ft, the stamp duty would be Rs 2,87,000 and the registration fee would be Rs 82,000, totaling Rs 3,69,000 for a 1,000 sq.ft plot.

Which office handles registrations for Rajammbal Street Block 85?

The Ashok Nagar Sub Registrar Office handles registrations for Rajammbal Street Block 85, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Rajammbal Street Block 85?

The land classification for Rajammbal Street Block 85 is Residential Class IV Type - I, indicating its designated use for residential purposes.