Guideline Value for RAJASEKAR NAGAR EXTN.

Rajasekar Nagar Extn. guideline value

The current guideline value of Rajasekar Nagar Extn. is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village, under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Rajasekar Nagar Extn. has changed

The guideline value for Rajasekar Nagar Extn. has undergone several revisions over the years. In 2002, the value was Rs 136 per sq.ft, which increased to Rs 160 per sq.ft in 2003, marking an 18% increase. The value then saw a significant rise to Rs 400 per sq.ft in 2007, reflecting a 150% increase. Following this, the 2012 revision set the value at Rs 1,500 per sq.ft, a substantial increase of 275% from the previous revision. However, in 2017, the value dropped to Rs 1,005 per sq.ft, indicating a decrease of 33%. The most recent revision in 2024 has raised the value to Rs 1,650 per sq.ft, which is a 64% increase from 2017.

It is important to note that the register has no figure for this street in 2023. Overall, from 2002 to 2024, the guideline value has increased by 1113%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current value of Rajasekar Nagar Extn.

• Rajasekaran Nagar: Rs 1,320 per sq.ft (2024)
• Rajaveethi Street: Rs 1,650 per sq.ft (2024)
• Rajesekaran Nagar Annex: Rs 1,320 per sq.ft (2024)
• Rajesh Nagar: Rs 2,420 per sq.ft (2024)
• Rajesh Nagar 1st Main Road Cross Street: Rs 2,420 per sq.ft (2024)
• Rajesh Nagar 5th Main Road: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Rajasekar Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, the total cost for these fees would be Rs 1,48,500. 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 Rajasekar Nagar Extn.?

The Sub Registrar Office that covers Rajasekar Nagar Extn. 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 is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for ensuring compliance with local regulations and for accurately estimating the total costs involved in property transactions. It is advisable for buyers and sellers to consult the latest guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajasekar Nagar Extn.?

The current guideline value of Rajasekar Nagar Extn. is Rs 1,650 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 136 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 1113% over the years.

What is the registration office for Rajasekar Nagar Extn.?

The registration office for Rajasekar Nagar Extn. 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.

What fees are associated with buying property in Rajasekar Nagar Extn.?

When buying property in Rajasekar Nagar Extn., buyers must pay stamp duty at 7% of the guideline value and a registration fee at 2% of the guideline value. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the guideline values for other streets in Pallikaranai?

The guideline values for other streets in Pallikaranai can be found in the registration department's guideline value register. Each street has its own specific guideline value, which varies across the village.