Guideline Value for Rajangam Street / VOC Nagar

Rajangam Street / VOC Nagar guideline value

The current guideline value of Rajangam Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Rajangam Street / VOC Nagar has changed

The guideline value for Rajangam Street / VOC Nagar has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 185 per sq.ft. In 2003, it increased to Rs 210 per sq.ft, marking a change of +14%. The 2007 revision saw a significant jump to Rs 360 per sq.ft, which is an increase of +71%. By 2017, the value rose dramatically to Rs 1,675 per sq.ft, reflecting a change of +365%. The 2023 revision brought the value to Rs 2,500 per sq.ft, which is a +49% increase from the previous revision. Finally, the 2024 revision set the current guideline value at Rs 2,750 per sq.ft, a rise of +10% from 2023. The register has no figure for this street in 2012.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by +1386%. This substantial increase highlights the changes in property values over the years in this area.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Rajangam Street / VOC Nagar's 2024 figure above that median.

• Rajangam Street / Shivashankaran Nagar: Rs 1,980 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 / VOC Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajangam Street / VOC Nagar?

The Sub Registrar Office that covers Rajangam Street / VOC 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 information.

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

The guideline value is a crucial factor in property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer purchases a property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When selling a property, the guideline value helps both buyers and sellers understand the expected value of the property in the market. It provides a transparent reference point that aids in negotiations and ensures compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of Rajangam Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 185 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +1386% over the years.

What is the stamp duty for properties in Rajangam Street / VOC Nagar?

The stamp duty for properties in Rajangam Street / VOC Nagar is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500.

Where can I find the Sub Registrar Office for Rajangam Street / VOC Nagar?

The Sub Registrar Office for Rajangam Street / VOC Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

What other streets have guideline values in Pammal?

Other streets in Pammal include Rajangam Street / Shivashankaran Nagar at Rs 1,980 per sq.ft, Rajan Street / Meenakshi Nagar at Rs 1,980 per sq.ft, and Rajarajan Street (Anna Nagar) at Rs 2,750 per sq.ft, among others.