Guideline Value for Rajarathinam 1st Street

Rajarathinam 1st Street guideline value

The current guideline value of Rajarathinam 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO and is classified as Residential Class I Type - III.

How the guideline value of Rajarathinam 1st Street has changed

The guideline value for Rajarathinam 1st Street has seen several revisions over the years. In 2002, the value was Rs 338 per sq.ft, which increased to Rs 379 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2007, then to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017, before increasing again to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 3,900 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase has been +1054%. The change from 2017 to 2023 was +49%, while the value decreased by -33% from 2012 to 2017. The rise from 2007 to 2012 was +192%, and from 2003 to 2007, it was +217%. Lastly, the increase from 2002 to 2003 was +12%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value for Rajarathinam 1st Street is above this median.

• Rajarathinam 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Rajarathinam 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Rajarathinam 2nd Street: Rs 3,900 per sq.ft (2024)
• Rajarathinam 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Rajarathinam 3rd Street: Rs 3,900 per sq.ft (2024)
• Rajarathinam 4th Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarathinam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajarathinam 1st Street?

The Sub Registrar Office that covers Rajarathinam 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

When buying or selling property in Ullagaram, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

It is essential to understand that the guideline value is set by the Registration Department and reflects the minimum value at which properties can be registered. Buyers should be prepared to pay stamp duty and registration fees based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Rajarathinam 1st Street?

The current guideline value of Rajarathinam 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 338 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of +1054% over the years.

What is the land classification for Rajarathinam 1st Street?

Rajarathinam 1st Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Rajarathinam 1st Street?

The Sub Registrar Office for Rajarathinam 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Rajarathinam 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total fees would be Rs 3,51,000.