Guideline Value for RAJASEKARAN NAGAR

Rajasekaran Nagar guideline value

The current guideline value of Rajasekaran Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Rajasekaran Nagar has changed

The guideline value for Rajasekaran Nagar has undergone several revisions since 2002. The values have changed as follows: in 2002, the guideline value was Rs 92 per sq.ft, which increased to Rs 109 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007, and then it jumped to Rs 1,200 per sq.ft in 2012. However, the value decreased to Rs 804 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft from the 2024 revision.

Between the revisions, the most notable changes include a 267% increase from 2003 to 2007, a 200% increase from 2007 to 2012, and a 49% increase from 2017 to 2023. Overall, from 2002 to 2024, the guideline value has increased by 1,335%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry 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, making Rajasekaran Nagar's current guideline value below this median.

• Rajasekar Nagar Extn.: Rs 1,650 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 Rajasekaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost for these charges Rs 1,18,800. 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 detailed calculations.

Which Sub Registrar Office covers Rajasekaran Nagar?

The Sub Registrar Office that covers Rajasekaran 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 is an essential factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajasekaran Nagar?

The current guideline value of Rajasekaran Nagar is Rs 1,320 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 92 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1,335% over the years.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, with Rajasekaran Nagar's current value being below this median.

What are the stamp duty and registration fees in Rajasekaran Nagar?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where is the Sub Registrar Office for Rajasekaran Nagar located?

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