Guideline Value for Raju Street

Raju Street guideline value

The current guideline value of Raju Street, located in Tambaram village, is Rs 2,200 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 Raju Street has changed

The guideline value for Raju Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this figure dropped to Rs 1,340 per sq.ft in 2017, marking a decrease of 33%. The value then rose sharply to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 450%. It is important to note that there are no figures available for Raju Street in the revisions for the years 2002 and 2003.

Guideline values in Tambaram

In Tambaram, 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 value for these streets is Rs 3,300 per sq.ft, placing Raju Street's 2024 figure below this median.

• Rajmohan Nagar: Rs 2,200 per sq.ft (2024)
• Ramakrishna Nagar Extension: Rs 1,320 per sq.ft (2024)
• Ramakrishnan Nagar: Rs 1,320 per sq.ft (2024)
• Ramakrishnan Street: Rs 6,600 per sq.ft (2024)
• Raji Road/Street: Rs 4,400 per sq.ft (2024)
• Ramasamy Pandithar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Raju Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total costs together Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Raju Street?

The Sub Registrar Office that covers Raju Street is 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 Tambaram

The guideline value is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

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 Raju Street?

The current guideline value of Raju Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification for Raju Street?

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

Where can I find the Sub Registrar Office for Raju Street?

The Sub Registrar Office for Raju Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is stamp duty calculated for property transactions in Tambaram?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable on the guideline value.