Guideline Value for Rajarajan Street

Rajarajan Street guideline value

The current guideline value of Rajarajan Street in Oragadam village, under the Ambattur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - I.

How the guideline value of Rajarajan Street has changed

The guideline value for Rajarajan Street has seen significant changes over the years. In 2002, the guideline value was Rs 110 per sq.ft, which increased to Rs 119 per sq.ft in 2003. Following this, the value rose dramatically to Rs 500 per sq.ft in 2007, and then to Rs 2,200 per sq.ft in 2012. However, it decreased to Rs 1,474 per sq.ft in 2017 before increasing again to Rs 2,200 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2082%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Rajarajan Street's 2024 guideline value is above this median.

• Rajarao Street: Rs 2,400 per sq.ft (2024)
• Rajammal Nagar: Rs 1,600 per sq.ft (2024)
• Raja mangalam Street: Rs 1,600 per sq.ft (2024)
• Rajasekaran Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Raja Street: Rs 1,600 per sq.ft (2024)
• Rajaji Street(V.L.Puram): Rs 2,400 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 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Rajarajan Street?

The Sub Registrar Office that covers Rajarajan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers should be aware that the guideline value is used to ensure that the transaction is recorded at a fair value.

When registering a property, the buyer will need to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajarajan Street?

The current guideline value of Rajarajan Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 110 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, representing an overall increase of 2082% over this period.

What is the land classification for Rajarajan Street?

The land classification for Rajarajan Street is Residential Special Type - I.

What are the stamp duty rates for properties in Rajarajan Street?

The stamp duty rate for properties in Rajarajan Street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Rajarajan Street located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.