Guideline Value for RAJALAKSHMI NAGAR

Rajalakshmi Nagar guideline value

The current guideline value of Rajalakshmi Nagar, located in Nemam_B village under the Avadi SRO, is Rs 440 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Rajalakshmi Nagar has changed

Over the years, the guideline value of Rajalakshmi Nagar has seen significant changes. The 2017 revision set the value at Rs 268 per sq.ft, which was then increased to Rs 400 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Nemam_B

In Nemam_B, there are 24 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 3,500 per sq.ft. The median value for these streets is Rs 935 per sq.ft, indicating that the guideline value for Rajalakshmi Nagar is below this median.

• Rajalakshmi Enclave Phase - II: Rs 550 per sq.ft (2024)
• Rajalakshmi Enclave Phase I: Rs 550 per sq.ft (2024)
• Radha Nagar: Rs 710 per sq.ft (2024)
• Royal Crown: Rs 1,100 per sq.ft (2024)
• Royal Crown Phase - II: Rs 1,100 per sq.ft (2024)
• New Metro City Annex - S.No.755/2: Rs 440 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total cost for these fees Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nemam_B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar?

The current guideline value of Rajalakshmi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since the 2017 revision, the guideline value has increased from Rs 268 per sq.ft to Rs 440 per sq.ft in 2024, marking a total increase of 64% over this period.

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 registration office for Rajalakshmi Nagar?

The registration office for Rajalakshmi Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800.