Guideline Value for Rajendra Prasad Main Road

Rajendra Prasad Main Road guideline value

The current guideline value of Rajendra Prasad Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Mixed Type - II land.

How the guideline value of Rajendra Prasad Main Road has changed

The guideline value for Rajendra Prasad Main Road has seen several revisions over the years. In 2007, the value was set at Rs 1,825 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, this figure decreased to Rs 2,345 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 3,500 per sq.ft, and the most recent revision in 2024 set it at Rs 3,850 per sq.ft. The register has no figure for this street in 2002 and 2003.

Between the revisions, notable changes include a 92% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 111% from 2007 to 2024.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, making the current value of Rajendra Prasad Main Road above this median.

• Rajendra Prasad Road (Part): Rs 3,850 per sq.ft (2024)
• Rajendran Lane: Rs 2,970 per sq.ft (2024)
• Rajarajeswari Nagar: Rs 2,970 per sq.ft (2024)
• Ramachandra Street: Rs 4,400 per sq.ft (2024)
• Rajaji Street: Rs 2,970 per sq.ft (2024)
• Rajaji Cross Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendra Prasad Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, leading to a total cost of Rs 3,46,500. It is important to note that 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 information on your specific property.

Which Sub Registrar Office covers Rajendra Prasad Main Road?

The Sub Registrar Office that covers Rajendra Prasad Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Hastinapuram

The guideline value is a crucial factor in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajendra Prasad Main Road?

The current guideline value of Rajendra Prasad Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,825 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 111% over the years.

What are the other streets in Hastinapuram with their guideline values?

Other streets in Hastinapuram include Rajendra Prasad Road (Part) at Rs 3,850 per sq.ft, Rajendran Lane at Rs 2,970 per sq.ft, and Ramachandra Street at Rs 4,400 per sq.ft, among others.

What fees are associated with buying property on Rajendra Prasad Main Road?

When buying property on Rajendra Prasad Main Road, you will incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajendra Prasad Main Road?

The Sub Registrar Office for Rajendra Prasad Main Road is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more information about it online.