Guideline Value for RAJAVEETHI

Rajaveethi guideline value

The current guideline value of Rajaveethi, located in Walajabad village under the Walajabad SRO, is Rs 2,000 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - IV.

How the guideline value of Rajaveethi has changed

Over the years, the guideline value of Rajaveethi has seen several revisions. Starting from the 2003 revision, the value was Rs 130 per sq.ft. In 2007, it increased significantly to Rs 200 per sq.ft, followed by a substantial jump to Rs 2,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,340 per sq.ft. The 2023 revision maintained the value at Rs 2,000 per sq.ft, which remains unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The most significant change occurred from 2007 to 2012, with an increase of 900%. Overall, from 2003 to 2024, the guideline value has risen by 1438%. The register has no figure for the year 2002 for this street.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 750 per sq.ft. The guideline value for Rajaveethi is above this median.

• RAJAVEETHI-1rd-CROSS ST: Rs 1,500 per sq.ft (2024)
• RAJAVEETHI-2rd-CROSS ST: Rs 1,500 per sq.ft (2024)
• RAJAVEETHI-3rd-CROSS ST: Rs 1,500 per sq.ft (2024)
• RAJAVEETHI-4rd-CROSS ST: Rs 1,500 per sq.ft (2024)
• Puthucheri South Srteet: Rs 750 per sq.ft (2024)
• R.D.St: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaveethi

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, making the total cost for these fees Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaveethi?

The Sub Registrar Office that covers Rajaveethi is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Walajabad. It serves as a benchmark for determining the minimum value of property transactions, ensuring that properties are registered at a value that reflects the current market conditions as determined by the government.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Rajaveethi?

The current guideline value of Rajaveethi is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from Rs 200 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2012. There was a decrease to Rs 1,340 per sq.ft in 2017, but it returned to Rs 2,000 per sq.ft in both 2023 and 2024.

What are the other streets in Walajabad and their guideline values?

Other streets in Walajabad include RAJAVEETHI-1rd-CROSS ST, RAJAVEETHI-2rd-CROSS ST, RAJAVEETHI-3rd-CROSS ST, and RAJAVEETHI-4rd-CROSS ST, all valued at Rs 1,500 per sq.ft in 2024. Additionally, Puthucheri South Srteet and R.D.St are valued at Rs 750 per sq.ft.

How is stamp duty calculated for properties in Rajaveethi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 1,40,000 at a rate of 7%.

Where can I find the Sub Registrar Office for Rajaveethi?

The Sub Registrar Office for Rajaveethi is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more information about it online.