Guideline Value for RAJENDRA NAGAR (WARD -1)

Rajendra Nagar (Ward -1) guideline value

The current guideline value of Rajendra Nagar (Ward -1) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Konathi village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Rajendra Nagar (Ward -1) has changed

The guideline value for Rajendra Nagar has undergone several revisions over the years. The earliest recorded revision in 2012 set the value at Rs 600 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 402 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 600 per sq.ft. The most recent revision in 2024 saw another increase of 10%, resulting in the current value of Rs 660 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,500 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Rajendra Nagar's 2024 figure below this median.

• Rajeshwari Nagar (Val): Rs 880 per sq.ft (2024)
• Rajeswari Nagar Main Road (Ward -1): Rs 770 per sq.ft (2024)
• Rajivgandhi Street (Ward-21): Rs 660 per sq.ft (2024)
• Ramani Thottam (Ward-20): Rs 880 per sq.ft (2024)
• P.V.N. Avenue Thailavaram (Ward-21): Rs 770 per sq.ft (2024)
• Psa Nagar (Ward -1): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendra Nagar (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty, charged at 7%, would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. 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 Rajendra Nagar (Ward -1)?

The Sub Registrar Office covering Rajendra Nagar (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Konathi. It serves as a reference point for determining the minimum value at which property transactions can be registered. This ensures that the government receives the appropriate revenue through stamp duty and registration fees based on the guideline value.

When a buyer and seller agree on a sale price, the guideline value is compared to this price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Rajendra Nagar (Ward -1)?

The current guideline value of Rajendra Nagar (Ward -1) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Rajendra Nagar (Ward -1)?

Rajendra Nagar (Ward -1) is classified as Residential Class II Type - I.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Rajendra Nagar (Ward -1)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 6,60,000 would incur a stamp duty of Rs 46,200 at 7%.