Guideline Value for Rajaputhira Street

Rajaputhira Street guideline value

The current guideline value of Rajaputhira Street in Siruvallur village, under the Sembiam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - III.

How the guideline value of Rajaputhira Street has changed

The guideline value for Rajaputhira Street has seen significant changes over the years. In 2002, the guideline value was Rs 284 per sq.ft. This increased to Rs 312 per sq.ft in 2003, marking a 10% rise. The value then jumped to Rs 1,000 per sq.ft in 2007, which was a substantial increase of 221%. Following this, the value was revised to Rs 3,000 per sq.ft in 2012, reflecting a decrease of 33% from the previous figure. In 2017, the guideline value rose to Rs 2,010 per sq.ft, which was a 49% increase from 2012. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent revision in 2024 has increased it to Rs 3,300 per sq.ft, a 10% increase.

Overall, from 2002 to 2024, the guideline value has risen by 1062%. The register has no figures for the years not listed, ensuring that all changes are accurately represented.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,900 per sq.ft, placing Rajaputhira Street's 2024 figure above that median.

• Rajkamal Sowkar Street: Rs 3,300 per sq.ft (2024)
• Rajpath Street: Rs 3,300 per sq.ft (2024)
• Ragavachari Street: Rs 3,300 per sq.ft (2024)
• Rangasaee Lane: Rs 3,300 per sq.ft (2024)
• Rangasaee Naidu 1st Lane: Rs 3,300 per sq.ft (2024)
• Rangasaee Naidu Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaputhira Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 Rajaputhira Street?

The Sub Registrar Office that covers Rajaputhira Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Siruvallur. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction. The guideline value is set by the government and reflects the minimum value at which properties can be registered.

When a property is sold, the sale price is compared to the guideline value. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajaputhira Street?

The current guideline value of Rajaputhira 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 significantly, rising from Rs 284 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1062%.

What classification does Rajaputhira Street fall under?

Rajaputhira Street is classified as Commercial Class I Type - III.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur specific fees based on this amount.