Guideline Value for Rajendra Prasad Street

Rajendra Prasad Street guideline value

The current guideline value of Rajendra Prasad Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Rajendra Prasad Street has changed

Over the years, the guideline value for Rajendra Prasad Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as per the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, placing Rajendra Prasad Street's 2024 figure above this median.

• Rajaji Street: Rs 3,300 per sq.ft (2024)
• Ramaniyam Ram Enclave: Rs 3,400 per sq.ft (2024)
• Ram Garden: Rs 3,300 per sq.ft (2024)
• Ram Nagar: Rs 3,300 per sq.ft (2024)
• Radiance Mercury: Rs 2,725 per sq.ft (2024)
• Radiance Garnet: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendra Prasad Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajendra Prasad Street?

The Sub Registrar Office that covers Rajendra Prasad Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Perumbakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajendra Prasad Street?

The current guideline value of Rajendra Prasad Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft in 2024.

What is the land classification for Rajendra Prasad Street?

Rajendra Prasad Street is classified as Residential Special Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees can be calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.