Guideline Value for Rajampet Street

Rajampet Street guideline value

The current guideline value of Rajampet Street, located in the 2nd Division village under the Kanchipuram Joint IV SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Rajampet Street has changed

Starting from the 2012 revision, the guideline value for Rajampet Street was Rs 3,000 per sq.ft. In the following 2017 revision, the value decreased to Rs 2,010 per sq.ft, marking a decline of 33%. However, the value saw a significant increase in the 2023 revision, rising to Rs 3,000 per sq.ft, and then it further increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Between the 2017 and 2023 revisions, there was a notable increase of 49% in the guideline value. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in 2nd Division

In the 2nd Division village, there are 101 streets under the Kanchipuram Joint IV SRO that have a 2024 guideline value, ranging from Rs 800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Rajampet Street's 2024 figure above that median.

• Rajampet Saliyar Street: Rs 1,100 per sq.ft (2024)
• Railway Road: Rs 3,300 per sq.ft (2024)
• Ramana Nagar: Rs 1,100 per sq.ft (2024)
• Reddipet Keezh Santhu: Rs 1,100 per sq.ft (2024)
• Sangusapet Street: Rs 3,300 per sq.ft (2024)
• Santhaaleeswarar Kovil Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Rajampet Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee, charged at 2%, would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajampet Street?

The Sub Registrar Office that covers Rajampet Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value is a crucial factor during the registration process when buying or selling property in 2nd Division. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that transactions are conducted transparently.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This system helps maintain consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Rajampet Street?

The current guideline value of Rajampet Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Rajampet Street?

The land classification for Rajampet Street is Residential Special Type - II.

What are the stamp duty and registration fees for property in Rajampet Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Rajampet Street?

The Kanchipuram Joint IV Sub Registrar Office handles registrations for Rajampet Street, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501.