Guideline Value for Rajarathinam 5th Street

Rajarathinam 5th Street guideline value

The current guideline value of Rajarathinam 5th 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 5th Street has changed

The guideline value for Rajarathinam 5th 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 value then experienced a significant rise to Rs 1,200 per sq.ft in 2007, followed by an increase to Rs 3,500 per sq.ft in 2012. However, the value dropped to Rs 2,345 per sq.ft in 2017. The most recent revisions show the value at Rs 3,500 per sq.ft in 2023, and it has now risen to Rs 3,900 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents an increase of 11%. Notably, the overall change from 2002 to 2024 shows an increase of 1,054% in the guideline value for this street.

Guideline values in Ullagaram

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

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

Stamp duty and registration fee for property in Rajarathinam 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty is charged at 7%, resulting in Rs 2,73,000, while the registration fee at 2% amounts to Rs 78,000. Therefore, the total cost for stamp duty and registration fee together is Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajarathinam 5th Street?

The Sub Registrar Office that covers Rajarathinam 5th 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 is a critical factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

During the registration process, the buyer must pay stamp duty based on the higher of the guideline value or the sale price of the property. This ensures that properties are not undervalued during transactions, maintaining a standard for property sales in the area.

Frequently asked questions

What is the current guideline value of Rajarathinam 5th Street?

The current guideline value of Rajarathinam 5th 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 significantly, from Rs 338 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, representing an overall increase of 1,054%.

What is the land classification for Rajarathinam 5th Street?

Rajarathinam 5th Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Rajarathinam 5th Street?

For a 1,000 sq.ft plot, the total guideline value is 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 office handles registrations for Rajarathinam 5th Street?

The Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, handles registrations for Rajarathinam 5th Street.