Guideline Value for Rajarajan Street

Rajarajan Street guideline value

The current guideline value of Rajarajan Street in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Rajarajan Street has changed

The guideline value for Rajarajan Street has undergone several revisions over the years. In 2003, the value was Rs 317 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking an increase of 89%. The value remained stable at Rs 3,000 per sq.ft from 2012 until the 2023 revision.

In 2023, the guideline value was Rs 3,000 per sq.ft, and it saw a 10% increase to Rs 3,300 per sq.ft in 2024. It is important to note that there are no figures available for the revisions in 2002 and 2017 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, which is the same as the current value for Rajarajan Street.

• Rajapazham Colony Street: Rs 3,300 per sq.ft (2024)
• Rajaram Street: Rs 3,300 per sq.ft (2024)
• Raja Joseph Colony: Rs 3,300 per sq.ft (2024)
• Rajaji Street: Rs 3,300 per sq.ft (2024)
• Rajaji Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty, calculated at 7%, amounts to Rs 2,31,000, while the registration fee at 2% is Rs 66,000. Together, the total cost for stamp duty and registration fee is Rs 2,97,000. Duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajarajan Street?

The Sub Registrar Office that covers Rajarajan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Zaminpallavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives its due revenue from property transactions.

When buying or selling property, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This ensures that all property transactions are fairly assessed in accordance with the established guidelines.

Frequently asked questions

What is the current guideline value of Rajarajan Street?

The current guideline value of Rajarajan 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 increased from Rs 317 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 941% over the years.

What is the land classification for Rajarajan Street?

Rajarajan Street is classified as Residential Class I Type - II, which is important for understanding its usage and potential development.

Where can I find the Sub Registrar Office for Rajarajan Street?

The Sub Registrar Office for Rajarajan Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Rajarajan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.