Guideline Value for RAJALAKSHMI NAGAR

Rajalakshmi Nagar guideline value

The current guideline value of Rajalakshmi Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This village is part of Uthukkadu under the Walajabad SRO, classified as Residential Class I Type - II.

How the guideline value of Rajalakshmi Nagar has changed

The guideline value for Rajalakshmi Nagar has seen several revisions over the years. The 2017 revision recorded a value of Rs 201 per sq.ft, which remained unchanged at Rs 300 per sq.ft in the 2023 revision and continued at the same rate in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. The overall change from the 2017 revision to the 2024 revision is also a 49% increase, reflecting a consistent value of Rs 300 per sq.ft in the more recent revisions.

Guideline values in Uthukkadu - A

In Uthukkadu - A, there are 38 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. Rajalakshmi Nagar's 2024 figure is below this median.

• Raja Avenue: Rs 400 per sq.ft (2024)
• Sarveshvaran Nagar: Rs 300 per sq.ft (2024)
• Sri Akshaya Garden: Rs 400 per sq.ft (2024)
• Sri Balaji Avenue: Rs 771 per sq.ft (2024)
• Sri Hari Nagar: Rs 300 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 350 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total charges to Rs 27,000. It is important to note that 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 Rajalakshmi Nagar?

The Sub Registrar Office covering Rajalakshmi Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Uthukkadu - A

The guideline value is a critical factor used during the registration of property transactions in Uthukkadu - A. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps establish a fair baseline for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Rajalakshmi Nagar?

The current guideline value for Rajalakshmi Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Rajalakshmi Nagar?

Rajalakshmi Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Rajalakshmi Nagar?

The Sub Registrar Office for Rajalakshmi Nagar is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Rajalakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 300 per sq.ft incurs a total stamp duty and registration fee of Rs 27,000.