Guideline Value for RAJALAKSHMI NAGAR

Rajalakshmi Nagar guideline value

The current guideline value of Rajalakshmi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Class III Type - I.

How the guideline value of Rajalakshmi Nagar has changed

Over the years, the guideline value for Rajalakshmi Nagar has seen several revisions. The most recent revision in 2024 maintains the guideline value at Rs 1,000 per sq.ft, which is the same as the 2023 revision. Prior to this, in 2017, the guideline value was Rs 670 per sq.ft, marking a significant increase of 49% from 2017 to 2023 and an overall increase of 49% from 2017 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

The consistent value of Rs 1,000 per sq.ft from 2023 to 2024 indicates stability in the guideline value during this period. The increase from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2024 reflects the changes in valuation over the years, with the most notable jump occurring between 2017 and 2023.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Rajalakshmi Nagar's 2024 guideline value of Rs 1,000 per sq.ft is below this median.

• Rajaji Street: Rs 2,001 per sq.ft (2024)
• Railwaystation Road: Rs 2,001 per sq.ft (2024)
• Raj Nagar: Rs 1,500 per sq.ft (2024)
• Radhakrishnan Street: Rs 2,001 per sq.ft (2024)
• Pushpa Kanth Nagar: Rs 1,200 per sq.ft (2024)
• Pushapa Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajalakshmi Nagar?

The Sub Registrar Office that covers Rajalakshmi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Gooduvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar?

The current guideline value of Rajalakshmi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rajalakshmi Nagar has remained at Rs 1,000 per sq.ft from 2023 to 2024. It increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2024, reflecting a 49% increase over this period.

What are the other guideline values in Gooduvancheri?

In Gooduvancheri, the guideline values range from Rs 1,000 to Rs 3,500 per sq.ft. Other streets in Gooduvancheri have varying rates, with the median value being Rs 1,500 per sq.ft.

What are the stamp duty and registration fees for properties in Rajalakshmi Nagar?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Rajalakshmi Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, in the Chengalpattu registration zone.