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 Thailavaram village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - I.

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

The guideline value for Rajendra Nagar (Ward -1) has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. However, in the subsequent revision in 2023, the value increased significantly to Rs 600 per sq.ft, and the latest revision in 2024 set the guideline value at Rs 660 per sq.ft. The changes between these revisions include a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, and overall, from 2012 to 2024, the guideline value has increased by 10%. The current rate reflects the ongoing adjustments in the property valuation in the area.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 770 per sq.ft, indicating that the guideline value for Rajendra Nagar (Ward -1) is below this median.

• Rajeshwari Nagar (Val): Rs 881 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 881 per sq.ft (2024)
• P.V.N. Avenue Thailavaram (Ward-21): Rs 770 per sq.ft (2024)
• Psa Nagar (Ward -1): Rs 881 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, leading to a total of Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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

Rajendra Nagar (Ward -1) is covered by 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Thailavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a buyer or seller approaches the registration office, the guideline value is assessed to ensure that the appropriate fees are calculated based on the higher of the guideline value or the sale price. This process helps maintain transparency and standardization in 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 increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

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

Rajendra Nagar (Ward -1) is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

How does the guideline value compare to other streets in Thailavaram?

The guideline value of Rs 660 per sq.ft for Rajendra Nagar (Ward -1) is below the median value of Rs 770 per sq.ft for other streets in Thailavaram.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.