Guideline Value for Rajendra Cholan Street

Rajendra Cholan Street guideline value

The current guideline value of Rajendra Cholan Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Rajendra Cholan Street has changed

The guideline value for Rajendra Cholan Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was set at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 2,750 per sq.ft.

In summary, the changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, a further increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this village is Rs 1,650 per sq.ft, making Rajendra Cholan Street's 2024 figure above that median.

• Rajendran Avenue: Rs 2,750 per sq.ft (2024)
• Rajendran Avenue Ext-1: Rs 2,750 per sq.ft (2024)
• Rajendran Road: Rs 1,100 per sq.ft (2024)
• Raja Street: Rs 1,100 per sq.ft (2024)
• RajaRajeswari St: Rs 1,650 per sq.ft (2024)
• Rajarajeswari Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendra Cholan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajendra Cholan Street?

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

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

The guideline value is a crucial factor in property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and reflects the true value of the property according to the established guidelines.

Frequently asked questions

What is the current guideline value of Rajendra Cholan Street?

The current guideline value of Rajendra Cholan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Rajendra Cholan Street?

Rajendra Cholan Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Rajendra Cholan Street?

The Sub Registrar Office for Rajendra Cholan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.