Guideline Value for Rajendra Prasad Road

Rajendra Prasad Road guideline value

The current guideline value of Rajendra Prasad Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This road is located in Cantonment Pallavaram village, under the Pallavaram SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Rajendra Prasad Road has changed

The guideline value for Rajendra Prasad Road has seen several revisions over the years. In 2003, the value was Rs 530 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following this, the value surged to Rs 2,500 per sq.ft in 2012, but then dropped to Rs 1,675 per sq.ft in 2017. The value then rose significantly to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision. Notably, there is no figure for this street in the 2002 register.

From 2003 to 2024, the overall change in guideline value is an increase of 409%. The most significant change occurred between 2007 and 2012, with a remarkable increase of 400%. The most recent change from 2023 to 2024 reflects an 8% increase.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram features a range of guideline values across its 81 streets, with figures for 2024 ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which aligns with the current guideline value of Rajendra Prasad Road.

• Ranganatha Mudali Street: Rs 5,500 per sq.ft (2024)
• Rangapillai Street: Rs 3,300 per sq.ft (2024)
• Queen Street: Rs 2,700 per sq.ft (2024)
• RangasamiPillai Street: Rs 2,700 per sq.ft (2024)
• Puviamman Koil Street: Rs 2,750 per sq.ft (2024)
• Prince Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendra Prasad Road

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajendra Prasad Road?

The Sub Registrar Office that covers Rajendra Prasad Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Cantonment Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajendra Prasad Road?

The current guideline value of Rajendra Prasad Road is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 530 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 409% over this period.

What are the stamp duty and registration fees for properties on Rajendra Prasad Road?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations for Rajendra Prasad Road?

The Pallavaram Sub Registrar Office handles property registrations for Rajendra Prasad Road, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the applicable stamp duty and registration fees during property transactions. It is essential for ensuring that the correct revenue is collected by the government.