Guideline Value for RAJALAKSHMANAN NAGAR

Rajalakshmanan Nagar guideline value

The current guideline value of Rajalakshmanan Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Sathanacherry village under the Walajabad SRO and is classified as Residential Special Type - I.

How the guideline value of Rajalakshmanan Nagar has changed

Over the years, the guideline value of Rajalakshmanan Nagar has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained the same in the subsequent 2017 revision. However, the 2017 revision marked a decrease of 33% from the previous value, bringing it down to Rs 67 per sq.ft. The value then increased significantly by 49% to Rs 100 per sq.ft in the 2023 revision, and it has remained unchanged at Rs 100 per sq.ft in the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 revision to the 2024 revision, there has been no change in the guideline value, remaining at Rs 100 per sq.ft.

Guideline values in Sathanacherry

In Sathanacherry, there are three streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 400 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing Rajalakshmanan Nagar's 2024 figure below that median.

• S.K.Gangatharan Nagar: Rs 150 per sq.ft (2024)
• Kanagambal Avenue: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalakshmanan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajalakshmanan Nagar?

The Sub Registrar Office that covers Rajalakshmanan Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Sathanacherry. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value of the property being transacted.

When a property is bought or sold, the guideline value helps in determining the official sale price for registration purposes. The stamp duty is calculated based on the higher of the guideline value or the actual sale price, which ensures compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Rajalakshmanan Nagar?

The current guideline value of Rajalakshmanan Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft from 2012 to 2024, with a previous decrease to Rs 67 per sq.ft in 2017. The value increased by 49% from 2017 to 2023 and has not changed since then.

What is the classification of land in Rajalakshmanan Nagar?

Rajalakshmanan Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Which office handles registrations for Rajalakshmanan Nagar?

The Walajabad Sub Registrar Office handles registrations for Rajalakshmanan Nagar, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Rajalakshmanan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 1,00,000 would incur a stamp duty of Rs 7,000 at a rate of 7%.