Guideline Value for Rajarao Street

Rajarao Street guideline value

The current guideline value of Rajarao Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Rajarao Street has changed

The guideline value for Rajarao Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 1,474 per sq.ft. The 2023 revision saw a rise to Rs 2,200 per sq.ft, followed by the current value of Rs 2,400 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 300%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam village, there are 596 streets under the Ambattur SRO carrying 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. Rajarao Street's current guideline value is above this median.

• Rajarajan Street: Rs 2,400 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)
• Rajammal Nagar: Rs 1,600 per sq.ft (2024)
• Raja mangalam Street: Rs 1,600 per sq.ft (2024)
• Rajendra Prasath 1st Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarao Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. Please note that the 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 more details.

Which Sub Registrar Office covers Rajarao Street?

The Sub Registrar Office that covers Rajarao 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 information.

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 determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price according to government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajarao Street?

The current guideline value of Rajarao 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 from Rs 600 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 300% over this period.

What are the stamp duty and registration fees for property in Rajarao Street?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Which Sub Registrar Office covers Rajarao Street?

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

What is the land classification for Rajarao Street?

Rajarao Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.