Guideline Value for Rajarathinam Nagar 5th Street

Rajarathinam Nagar 5th Street guideline value

The current guideline value of Rajarathinam Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajarathinam Nagar 5th Street has changed

The guideline value for Rajarathinam Nagar 5th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, the latest 2024 revision has increased the value to Rs 2,200 per sq.ft, reflecting a significant increase of 64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft in 2024. The median guideline value in this area is Rs 2,700 per sq.ft, placing Rajarathinam Nagar 5th Street's current value below the median.

• Rajarathinam Nagar 5th Main Road: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 4th Main Road: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 8th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarathinam Nagar 5th 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, making the total cost for these fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajarathinam Nagar 5th Street?

The Sub Registrar Office that covers Rajarathinam Nagar 5th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodungaiyur. 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 based on this value.

When a property is sold, the buyer and seller must adhere to the guideline value during the registration process. This ensures transparency and compliance with the regulations set by the registration department, as the guideline value is regularly updated to reflect current market conditions.

Frequently asked questions

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

The current guideline value of Rajarathinam Nagar 5th 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 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then to Rs 2,200 per sq.ft in 2024. This represents a decline from 2012 to 2017, followed by a significant increase from 2017 to 2024.

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 guideline value is Rs 22,00,000. The stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, resulting in a total of Rs 1,98,000 for these fees.

Which office handles the registration of properties in Rajarathinam Nagar 5th Street?

The Madhavaram Sub Registrar Office handles the registration of properties in Rajarathinam Nagar 5th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Rajarathinam Nagar 5th Street?

The land classification for Rajarathinam Nagar 5th Street is Residential Class II Type - I, which indicates the type of residential development permitted in this area.