Guideline Value for Rajavelu Street

Rajavelu Street guideline value

The current guideline value of Rajavelu Street in Tondaiarpet village, under the Royapuram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Rajavelu Street has changed

Over the years, the guideline value of Rajavelu Street has seen significant changes. The 2007 revision recorded a value of Rs 700 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 186%. However, this value decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The subsequent revisions saw an increase to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, representing a 10% rise.

From 2017 to 2023, the value increased by 49%, leading to the current figure of Rs 2,200 per sq.ft in 2024. Overall, from 2007 to 2024, the guideline value has increased by 214%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. Rajavelu Street's current guideline value is above this median.

• Rajasekaran Nagar street: Rs 1,300 per sq.ft (2024)
• Rajasekaran Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Rajasekaran Nagar 5th street: Rs 1,300 per sq.ft (2024)
• Rajasekaran Nagar 4th street: Rs 1,300 per sq.ft (2024)
• Rajasekaran Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Rajasekaran Nagar 2nd street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajavelu 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 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 Rajavelu Street?

The Sub Registrar Office covering Rajavelu Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the value of the property for registration purposes, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller comply with the legal requirements during the property transfer process.

Frequently asked questions

What is the current guideline value of Rajavelu Street?

The current guideline value of Rajavelu 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 significantly, from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which is an overall increase of 214% over the years.

What is the classification of Rajavelu Street?

Rajavelu Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Rajavelu Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Rajavelu Street located?

The Sub Registrar Office for Rajavelu Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.