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 Potheri village under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

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

Over the years, the guideline value for Rajendra Nagar has seen several revisions. In 2012, the value was Rs 600 per sq.ft, which decreased to Rs 402 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, followed by another increase to Rs 660 per sq.ft in 2024, reflecting a 10% rise from the previous year.

The 2023 revision set the value at Rs 600 per sq.ft, which was a 49% increase from the 2017 figure. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, indicating that Rajendra Nagar's current value is 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 would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajendra Nagar (Ward -1)?

The Sub Registrar Office that covers Rajendra Nagar (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Potheri, as it determines the minimum value at which a property can be registered. When buying or selling property, the buyer must pay stamp duty and registration fees based on this guideline value, ensuring that the transaction is officially recorded.

Additionally, the guideline value serves as a benchmark for property valuation during registration. It is essential for both buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions.

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 back 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, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Rajendra Nagar (Ward -1)?

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

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, for a property valued at Rs 6,60,000, the stamp duty at 7% would be Rs 46,200.