Guideline Value for Rajarathinam Street

Rajarathinam Street guideline value

The current guideline value of Rajarathinam Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of Rajarathinam Street has changed

The guideline value of Rajarathinam Street has undergone several revisions over the years. In 2002, the value was Rs 270 per sq.ft, which increased to Rs 333 per sq.ft in 2003, marking a 23% rise. The value continued to rise significantly, reaching Rs 400 per sq.ft in 2007, an increase of 20%. By 2012, the value was Rs 2,000 per sq.ft, showing a substantial increase of 400% from 2007. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33% from the previous revision.

From 2017 to 2023, the guideline value saw a significant increase to Rs 2,000 per sq.ft, which is a rise of 49%. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 715%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, placing Rajarathinam Street's 2024 figure below that median.

• Raja Nagar Lay out: Rs 1,320 per sq.ft (2024)
• Rajammal Avenue: Rs 2,200 per sq.ft (2024)
• Raji Road/Street: Rs 4,400 per sq.ft (2024)
• Rajaji Street 3rd Land: Rs 4,400 per sq.ft (2024)
• Rajaji Street 2nd Lane: Rs 4,400 per sq.ft (2024)
• Rajaji Street 1st Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarathinam 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, while the registration fee at 2% would be Rs 44,000, bringing the total 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajarathinam Street?

The Sub Registrar Office that covers Rajarathinam Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor during the registration process of property transactions in Tambaram. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the established guideline values.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for buyers and sellers to be aware of these values, as they directly impact the financial aspects of property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajarathinam Street?

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

How much has the guideline value changed over the years?

The guideline value has changed from Rs 270 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 715% over the years.

What is the land classification for Rajarathinam Street?

Rajarathinam Street falls under the Residential Class I Type - II land classification.

What are the stamp duty and registration fees for properties in Rajarathinam Street?

For a 1,000 sq.ft property 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 Street located?

The Sub Registrar Office for Rajarathinam Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.