Guideline Value for Rajan Street / Meenakshi Nagar

Rajan Street / Meenakshi Nagar guideline value

The current guideline value for Rajan Street / Meenakshi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Rajan Street / Meenakshi Nagar has changed

The guideline value for Rajan Street / Meenakshi Nagar has seen significant changes over the years. Starting from Rs 161 per sq.ft in 2002, it increased to Rs 182 per sq.ft in 2003, marking a 13% rise. The value then jumped to Rs 260 per sq.ft in 2007, which was a 43% increase from the previous revision. Following this, the 2017 revision saw a remarkable increase to Rs 1,206 per sq.ft, reflecting a 364% change from 2007.

The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, representing a 64% increase from 2017. Overall, from 2002 to 2024, the guideline value has risen by 1130%. It is important to note that the register has no figures for the years 2012 and 2023 for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, which means that Rajan Street / Meenakshi Nagar's 2024 figure is below the median.

• Rajangam Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Rajangam Street / Shivashankaran Nagar: Rs 1,980 per sq.ft (2024)
• Rajarajan Street (Anna Nagar): Rs 2,750 per sq.ft (2024)
• Raja Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Raja Street (M.C.): Rs 1,980 per sq.ft (2024)
• Rajamani Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Rajan Street / Meenakshi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajan Street / Meenakshi Nagar?

The Sub Registrar Office that covers Rajan Street / Meenakshi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Pammal. It serves as a benchmark for determining the minimum price at which property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers must be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Rajan Street / Meenakshi Nagar?

The current guideline value for Rajan Street / Meenakshi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly from Rs 161 per sq.ft to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1130%.

What is the land classification for Rajan Street / Meenakshi Nagar?

Rajan Street / Meenakshi Nagar is classified as Residential Class II Type - II.

Which office handles property registrations for this area?

The Pammal Sub Registrar Office handles property registrations for Rajan Street / Meenakshi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200. The duty is charged on the higher of the guideline value or the sale price.