Guideline Value for Raju Naicken Street

Raju Naicken Street guideline value

The current guideline value of Raju Naicken Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of Raju Naicken Street has changed

Over the years, the guideline value of Raju Naicken Street has seen significant changes. In 2007, the guideline value was Rs 1,200 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a remarkable increase of 317%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then rose sharply to Rs 5,000 per sq.ft in 2023, representing an increase of 49%.

The most recent revision in 2024 has set the guideline value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year. It is important to note that the register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, and Raju Naicken Street's 2024 figure is above this median.

• Ramanatha Chetty Street: Rs 4,900 per sq.ft (2024)
• Ramanuja Nagar: Rs 4,900 per sq.ft (2024)
• Rajaji Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Rangaiah Naidu Street: Rs 4,900 per sq.ft (2024)
• Rangamannar Street: Rs 4,900 per sq.ft (2024)
• Raja BoothStreet, Chennai 82: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Raju Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raju Naicken Street?

The Sub Registrar Office that covers Raju Naicken Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of properties in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Raju Naicken Street?

The current guideline value of Raju Naicken Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,200 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 358% over the years.

What are the stamp duty and registration fees for properties on Raju Naicken Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office is responsible for Raju Naicken Street?

The AnnaNagar Sub Registrar Office is responsible for Raju Naicken Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Raju Naicken Street?

Raju Naicken Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.