Guideline Value for Rajaraja Cholan Street

Rajaraja Cholan Street guideline value

The current guideline value of Rajaraja Cholan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Rajaraja Cholan Street has changed

The guideline value for Rajaraja Cholan Street has seen several revisions over the years. The 2007 revision set the value at Rs 620 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 384% increase. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, which is a 10% rise from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 432%. The changes between the revisions highlight the fluctuations in property values in this area, with the most significant increase occurring between 2007 and 2012.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. Rajaraja Cholan Street's 2024 guideline value is below this median.

• Rajammbal Street Block 85: Rs 4,100 per sq.ft (2024)
• Rajamannar Salai (P.V): Rs 8,800 per sq.ft (2024)
• Rajaji Street: Rs 3,300 per sq.ft (2024)
• Rajeev Gandhi Street: Rs 3,300 per sq.ft (2024)
• Rajendra Naicken Street: Rs 3,300 per sq.ft (2024)
• Rajagopal Chetty Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaraja Cholan 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, while the registration fee at 2% would be Rs 66,000, bringing the total 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajaraja Cholan Street?

The Sub Registrar Office that covers Rajaraja Cholan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Rajaraja Cholan Street?

The current guideline value of Rajaraja Cholan 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 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 432% over the years.

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

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 Sub Registrar Office should I contact for transactions on Rajaraja Cholan Street?

The Ashok Nagar Sub Registrar Office covers Rajaraja Cholan Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Rajaraja Cholan Street?

The land classification for Rajaraja Cholan Street is Residential Class IV Type - II, indicating its suitability for residential purposes.