Guideline Value for RAJALAKSHMI NAGAR -THULUKKANATHAMMAN KOVIL STREET

Rajalakshmi Nagar -Thulukkanathamman Kovil Street guideline value

The current guideline value for Rajalakshmi Nagar -Thulukkanathamman Kovil Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Rajalakshmi Nagar -Thulukkanathamman Kovil Street has changed

The guideline value for this street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, the 2012 revision also recorded Rs 1,200 per sq.ft, indicating no change from that year to 2023. There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This shows a gradual adjustment in the value over the years despite the lack of data in certain revisions.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median value for these streets is Rs 1,650 per sq.ft, which means that the guideline value for Rajalakshmi Nagar -Thulukkanathamman Kovil Street is below the median.

• Rajalakshmi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Rajalakshmi Nagar Extn.: Rs 2,200 per sq.ft (2024)
• Rajalakshmi Nagar - Ambethkar Cross St: Rs 2,200 per sq.ft (2024)
• Rajalakshmi Nagar 8th Street: Rs 1,320 per sq.ft (2024)
• RAJALAKSHMI NAGAR 8th CROSS ST: Rs 2,200 per sq.ft (2024)
• Rajalakshmi Nagar 7th Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalakshmi Nagar -Thulukkanathamman Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajalakshmi Nagar -Thulukkanathamman Kovil Street?

The Rajalakshmi Nagar -Thulukkanathamman Kovil Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value for Rajalakshmi Nagar -Thulukkanathamman Kovil Street?

The current guideline value for Rajalakshmi Nagar -Thulukkanathamman Kovil Street 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 2023 to Rs 1,320 per sq.ft in 2024, a 10% increase. There was no change from 2012 to 2023, where the value remained at Rs 1,200 per sq.ft.

What is the registration office for this street?

The registration office for Rajalakshmi Nagar -Thulukkanathamman Kovil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,20,000, the stamp duty at 7% would be Rs 92,400.

What are the guideline values for other streets in Pallikaranai?

Other streets in Pallikaranai have varying guideline values. For instance, Rajalakshmi Nagar Main Road, Rajalakshmi Nagar Extn., and Rajalakshmi Nagar - Ambethkar Cross St are all valued at Rs 2,200 per sq.ft in 2024, while Rajalakshmi Nagar 8th Street and Rajalakshmi Nagar 7th Street are valued at Rs 1,320 per sq.ft.