Guideline Value for Rajarathinam 2nd Cross Street

Rajarathinam 2nd Cross Street guideline value

The current guideline value of Rajarathinam 2nd Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Rajarathinam 2nd Cross Street has changed

The guideline value for Rajarathinam 2nd Cross Street has seen several revisions over the years. The 2007 revision recorded a guideline value of Rs 1,200 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in the 2012 revision, marking a rise of 192%. However, the value dropped to Rs 2,345 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The 2023 revision then saw a substantial increase to Rs 3,500 per sq.ft, followed by the current 2024 revision, which has set the value at Rs 3,900 per sq.ft, an increase of 11% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 225%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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 of Rajarathinam 2nd Cross Street is above this median.

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

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Rajarathinam 2nd Cross Street?

The Sub Registrar Office covering Rajarathinam 2nd Cross 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

The guideline value is a crucial factor in property transactions in Ullagaram, as it determines the minimum value at which a property can be registered. Buyers and sellers should be aware that this value influences the stamp duty and registration fees applicable during the transaction.

When purchasing property, the guideline value ensures that the sale price is aligned with the government’s assessment of property values in the area. This helps maintain transparency and fairness in property dealings within Ullagaram.

Frequently asked questions

What is the current guideline value of Rajarathinam 2nd Cross Street?

The current guideline value of Rajarathinam 2nd Cross 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 1,200 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 225% over the years.

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

For a property valued at Rs 39,00,000, the stamp duty is Rs 2,73,000 and the registration fee is Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office should I visit for transactions in this street?

The Alandur Sub Registrar Office covers Rajarathinam 2nd Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Rajarathinam 2nd Cross Street?

Rajarathinam 2nd Cross Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.