Guideline Value for Rajarathinam Nagar 2nd Street

Rajarathinam Nagar 2nd Street guideline value

The current guideline value of Rajarathinam Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

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

The guideline value of Rajarathinam Nagar 2nd Street has undergone several revisions over the years. The earliest revision available is from 2012, which set the value at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, and then an increase to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 raised the value to Rs 2,200 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Rajarathinam Nagar 2nd Street is below this median.

• Rajarathinam Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 3rd Main Road: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 4th Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarathinam Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajarathinam Nagar 2nd Street?

The Sub Registrar Office covering Rajarathinam Nagar 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value is considered alongside the sale price to calculate the applicable duties. If the sale price exceeds the guideline value, the duties will be charged based on the sale price.

Frequently asked questions

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

The current guideline value of Rajarathinam Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 in 2012 to Rs 1,340 in 2017, then back to Rs 2,000 in 2023, and finally to Rs 2,200 in 2024.

What is the land classification for Rajarathinam Nagar 2nd Street?

Rajarathinam Nagar 2nd Street is classified as Residential Class II Type - I.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Rajarathinam Nagar 2nd Street located?

The Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.