Guideline Value for Raji Road/Street

Raji Road/Street guideline value

The current guideline value of Raji Road/Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Raji Road/Street has changed

The guideline value for Raji Road/Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 4,000 per sq.ft. This figure then decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, representing a 49% rise. The most recent revision in 2024 established the current guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figure for Raji Road/Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which places Raji Road/Street's 2024 figure above this median.

• Rajmohan Nagar: Rs 2,200 per sq.ft (2024)
• Raju Street: Rs 2,200 per sq.ft (2024)
• Rajarathinam Street: Rs 2,200 per sq.ft (2024)
• Raja Nagar Lay out: Rs 1,320 per sq.ft (2024)
• Ramakrishna Nagar Extension: Rs 1,320 per sq.ft (2024)
• Ramakrishnan Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Raji Road/Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees total Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Raji Road/Street?

The Sub Registrar Office that covers Raji Road/Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone.

You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Tambaram. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should always be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Raji Road/Street?

The current guideline value of Raji Road/Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Raji Road/Street?

The land classification for Raji Road/Street is Residential Special Type - II.

Where can I find the Sub Registrar Office for Raji Road/Street?

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

How is the stamp duty calculated for property in Raji Road/Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 4,400 per sq.ft, the stamp duty would be Rs 3,08,000.