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Guideline Value

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Guideline Value for RAJA NAGAR @ GAJALAKSHMI NAGAR

₹1320/sq.ft.

The guideline value for Raja Nagar @ Gajalakshmi Nagar in Varadarajapuram village (Padappai SRO, Chennai zone) is Rs 1320 per sq.ft, effective 1 July 2024. It was Rs 1200 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Varadarajapuram

Village

Padappai

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹1320 /sq.ft.
From 1-4-2023 ₹1200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹804 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1200 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Raja Nagar @ Gajalakshmi Nagar

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Raja Nagar @ Gajalakshmi Nagar guideline value

The current guideline value of Raja Nagar @ Gajalakshmi Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Raja Nagar @ Gajalakshmi Nagar has changed

Over the years, the guideline value for Raja Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,320 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 to 2017 revision, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

Guideline values in Varadarajapuram

Within Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Raja Nagar at Rs 1,320 per sq.ft is below this median.

Stamp duty and registration fee for property in Raja Nagar @ Gajalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for stamp duty and registration would be Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Raja Nagar @ Gajalakshmi Nagar?

The Raja Nagar @ Gajalakshmi Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Varadarajapuram. It serves as a reference point for determining the minimum value of a property during registration. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the potential costs involved in the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that the transaction is legally recognized and recorded in the official register.

Frequently asked questions

What is the current guideline value of Raja Nagar?

The current guideline value of Raja Nagar @ Gajalakshmi Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the registration fees in Raja Nagar?

The registration fees are calculated based on the guideline value. For example, for a property valued at Rs 13,20,000, the registration fee would be Rs 26,400 at a rate of 2%.

Which office handles property registrations in Raja Nagar?

The Padappai Sub Registrar Office manages property registrations for Raja Nagar @ Gajalakshmi Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value?

The guideline value is significant as it determines the minimum value of a property for registration purposes. It is used to calculate stamp duty and registration fees during property transactions, ensuring compliance with local regulations.