Guideline Value for Rajathi Avenue

Rajathi Avenue guideline value

The current guideline value of Rajathi Avenue in Madhavaram village, under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Rajathi Avenue has changed

In the 2012 revision, the guideline value for Rajathi Avenue was Rs 1,200 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value of Rajathi Avenue has increased by 8%. There are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, which indicates that the 2024 guideline value for Rajathi Avenue is below this median.

• Rajasekar Nagar: Rs 1,300 per sq.ft (2024)
• Rajasekara Nagar (Ward-01): Rs 1,300 per sq.ft (2024)
• Rajeev Gandhi st (Ward No.23): Rs 1,300 per sq.ft (2024)
• Rajan Nagar 2nd Street (Ward No.29): Rs 1,600 per sq.ft (2024)
• Rajan Nagar 1st Street (Ward No.29): Rs 1,600 per sq.ft (2024)
• Raja Nagar (Ward-01): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajathi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, calculated at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajathi Avenue?

The Sub Registrar Office that covers Rajathi Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Rajathi Avenue?

The current guideline value of Rajathi Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rajathi Avenue has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 8% since 2012.

What is the land classification of Rajathi Avenue?

Rajathi Avenue falls under the Residential Class III Type - I land classification, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Rajathi Avenue?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations for Rajathi Avenue?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, handles property registrations for Rajathi Avenue.