Guideline Value

Corporate

Guideline Value for RAJALAKSHMI NAGAR

₹2200/sq.ft.

The guideline value for Rajalakshmi Nagar in Pallikaranai village (Chennai South Joint I SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Pallikaranai

Village

Chennai South Joint I

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹131 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹111 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Rajalakshmi Nagar

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Rajalakshmi Nagar guideline value

The current guideline value of Rajalakshmi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this locality is Residential Class II Type - I.

How the guideline value of Rajalakshmi Nagar has changed

The guideline value for Rajalakshmi Nagar has seen several revisions over the years. In 2002, the value was Rs 111 per sq.ft, which increased to Rs 131 per sq.ft in 2003. The value then rose significantly to Rs 400 per sq.ft in 2007, followed by a substantial jump to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The value was revised to Rs 2,000 per sq.ft in 2023 and is currently set at Rs 2,200 per sq.ft from 2024.

The changes between these revisions are noteworthy. From 2002 to 2024, the overall increase in the guideline value is 1882%. The most significant change occurred between 2007 and 2012, with a rise of 400%. The value then decreased by 33% from 2012 to 2017. Between 2017 and 2023, there was a notable increase of 49%, followed by a 10% rise from 2023 to 2024.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Rajalakshmi Nagar's 2024 figure above this median.

Stamp duty and registration fee for property in Rajalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and 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 that covers Rajalakshmi Nagar 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. 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 in property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the sale price is compared to the guideline value. The higher of the two figures is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar?

The current guideline value of Rajalakshmi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 111 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1882%.

What are the other streets in Pallikaranai with their guideline values?

Other streets in Pallikaranai include RAJALAKSHMI NAGAR 1st CROSS ST at Rs 2,200 per sq.ft, Rajalakshmi Nagar 1st Street at Rs 1,320 per sq.ft, and several others, all listed above.

What is the stamp duty rate in Rajalakshmi Nagar?

The stamp duty rate in Rajalakshmi Nagar is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Rajalakshmi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.