Guideline Value for Rajangam Street / Shivashankaran Nagar

Rajangam Street / Shivashankaran Nagar guideline value

The current guideline value of Rajangam Street / Shivashankaran 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 Rajangam Street / Shivashankaran Nagar has changed

The guideline value for Rajangam Street / Shivashankaran Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 230 per sq.ft, which increased to Rs 260 per sq.ft in 2003, marking a 13% rise. By 2007, the value had further increased to Rs 360 per sq.ft, reflecting a 38% change from the previous revision. The 2017 revision saw a substantial jump to Rs 1,206 per sq.ft, which is a 235% increase from 2007. The latest revision in 2024 has set the value at Rs 1,980 per sq.ft, representing a 64% increase from 2017.

It is important to note that there are no figures available for the years 2012 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 761%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Rajangam Street / Shivashankaran Nagar below this median.

• Rajangam Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Rajan Street / Meenakshi 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 Rajangam Street / Shivashankaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty charged at 7% would be 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajangam Street / Shivashankaran Nagar?

The Sub Registrar Office that covers Rajangam Street / Shivashankaran 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 plays a crucial role during property transactions in Pammal. When buying or selling property, this value is used to determine the stamp duty and registration fees, ensuring that the fees are calculated based on a standardized value set by the authorities.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of the transaction. Understanding this value helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Rajangam Street / Shivashankaran Nagar?

The current guideline value of Rajangam Street / Shivashankaran 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 230 per sq.ft to Rs 1,980 per sq.ft in 2024, which is an overall increase of 761%.

What is the land classification for Rajangam Street / Shivashankaran Nagar?

Rajangam Street / Shivashankaran Nagar is classified as Residential Class II Type - II.

Which Sub Registrar Office is responsible for Rajangam Street / Shivashankaran Nagar?

The Pammal Sub Registrar Office is responsible for Rajangam Street / Shivashankaran Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 1,78,200.