Guideline Value for Rajkamal Street

Rajkamal Street guideline value

The current guideline value of Rajkamal Street in Peerklankaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Rajkamal Street has changed

The guideline value for Rajkamal Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,650 per sq.ft, representing a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the guideline value of Rajkamal Street.

• Rajkamal Cross Street: Rs 1,650 per sq.ft (2024)
• Rajkamal cement Road: Rs 1,650 per sq.ft (2024)
• Rajkamal 2nd Cross st: Rs 1,650 per sq.ft (2024)
• RajivGandhi St: Rs 2,200 per sq.ft (2024)
• RajiGandhi Cross St: Rs 880 per sq.ft (2024)
• Ramalingam Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Rajkamal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajkamal Street?

Rajkamal Street is covered by 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 information.

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

The guideline value plays a crucial role during property transactions in Peerklankaranai. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This value ensures that the government receives the appropriate revenue from property transactions.

When registering a property, the guideline value is considered to ensure that the sale price reflects the market conditions. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajkamal Street?

The current guideline value of Rajkamal Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What land classification does Rajkamal Street fall under?

Rajkamal Street is classified as Residential Class I Type - II.

What is the registration office for Rajkamal Street?

The registration office for Rajkamal 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 properties in Rajkamal Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.