Guideline Value for Roja Street

Roja Street guideline value

The current guideline value of Roja Street, located in Adambakkam village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Roja Street has changed

The guideline value for Roja Street has seen several revisions over the years. In 2002, the guideline value was Rs 292 per sq.ft. This increased to Rs 650 per sq.ft in 2003, marking a significant rise of 123%. The value continued to climb, reaching Rs 900 per sq.ft in 2007, which was an increase of 38%. The value then experienced a substantial jump to Rs 3,500 per sq.ft in 2012, reflecting a remarkable growth of 289%. However, in 2017, the value decreased to Rs 2,345 per sq.ft, a decline of 33%. The most recent revisions saw the value rise to Rs 3,500 per sq.ft in 2023, and further increase to Rs 3,900 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1236%. There are no figures available for any revisions other than those mentioned for Roja Street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is the same as the current value for Roja Street.

• Sairam Street: Rs 3,900 per sq.ft (2024)
• Sakthi Nagar: Rs 4,400 per sq.ft (2024)
• Sakthi Nagar Extension: Rs 3,900 per sq.ft (2024)
• Ram Nagar Ist cross street: Rs 3,900 per sq.ft (2024)
• Ram Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Roja Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Roja Street?

The Sub Registrar Office that covers Roja Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the property is not undervalued, protecting both the buyer and seller in the transaction.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction adheres to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Roja Street?

The current guideline value of Roja Street is Rs 3,900 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 292 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1236% over the years.

What is the land classification for Roja Street?

Roja Street is classified as Residential Class I Type - III, which indicates its zoning for residential purposes.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 3,51,000.