Guideline Value for RAJALAKSHMI NAGAR

Rajalakshmi Nagar guideline value

The current guideline value for Rajalakshmi Nagar, located in Kudapakkam village under the Avadi SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Rajalakshmi Nagar has changed

The guideline value for Rajalakshmi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 201 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49% back to Rs 300 per sq.ft. The 2024 revision maintained this figure, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained at Rs 300 per sq.ft, indicating stability in this period.

Guideline values in Kudapakkam

In Kudapakkam, there are 12 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 234 to Rs 2,000 per sq.ft, with a median value of Rs 425 per sq.ft. Rajalakshmi Nagar's 2024 figure is below this median, indicating a relatively lower valuation compared to other areas.

• Spv One: Rs 600 per sq.ft (2024)
• Spv One Phase-II: Rs 700 per sq.ft (2024)
• Sri Balamurugan Nagar: Rs 300 per sq.ft (2024)
• Sri Chakra Nagar: Rs 300 per sq.ft (2024)
• Valluvar Nagar: Rs 234 per sq.ft (2024)
• Vikas Royal Enclave: Rs 2,000 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, calculated at 7%, would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total fees Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajalakshmi Nagar?

The Rajalakshmi Nagar area falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. For more details, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Kudapakkam. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared with the sale price; the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the transaction is fairly assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar?

The current guideline value of 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 seen several changes, with the most recent revision in 2024 maintaining the value at Rs 300 per sq.ft, the same as in 2023. The value decreased from Rs 300 in 2012 to Rs 201 in 2017, before increasing back to Rs 300 by 2023.

What is the median guideline value in Kudapakkam?

The median guideline value for streets in Kudapakkam is Rs 425 per sq.ft. Rajalakshmi Nagar's value is below this median, indicating a lower valuation compared to some other streets in the area.

What are the fees involved in property registration?

For a property valued at Rs 3,00,000, the stamp duty is Rs 21,000, and the registration fee is Rs 6,000, totaling Rs 27,000. 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 Avadi Sub Registrar Office, which covers Rajalakshmi Nagar, is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.