Guideline Value for Rajarathinam 2nd Street

Rajarathinam 2nd Street guideline value

The current guideline value of Rajarathinam 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Rajarathinam 2nd Street has changed

The guideline value for Rajarathinam 2nd 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. The following revisions showed significant changes, with the value jumping to Rs 1,200 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017 before rising again to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The value then increased by 11% from 2023 to 2024. The most significant increase occurred between 2007 and 2012, where the value rose by 192%. Overall, from 2002 to 2024, the guideline value has increased by 1,054%.

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 2nd Street is above this median.

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

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Rajarathinam 2nd Street?

The Sub Registrar Office that covers Rajarathinam 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is utilized during the registration process for property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers and sellers should consult the latest guideline values to ensure compliance with local regulations during the registration process.

Frequently asked questions

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

The current guideline value of Rajarathinam 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 338 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, which represents an overall increase of 1,054%.

What is the land classification for Rajarathinam 2nd Street?

The land classification for Rajarathinam 2nd Street is Residential Class I Type - III.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations for Rajarathinam 2nd Street?

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