Guideline Value for RAJENDRA NAGAR (WARD -1)

Rajendra Nagar (Ward -1) guideline value

The current guideline value of Rajendra Nagar (Ward -1) is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Vallancheri village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - II.

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

The guideline value for Rajendra Nagar (Ward -1) has seen several revisions over the years. In 2012, the guideline value was Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in 2017. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and then further to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2017 to 2023, the increase was 49%, while the overall change from 2012 to 2024 shows a modest increase of 10%. The fluctuations in the guideline value reflect various factors affecting property valuation in the area.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 825 per sq.ft, placing Rajendra Nagar (Ward -1) above the median at Rs 880 per sq.ft.

• Rajeshwari Nagar (Val): Rs 880 per sq.ft (2024)
• Rajeswari Nagar Main Road (Ward -1): Rs 880 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also 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 Vallancheri

The guideline value is a crucial factor in the registration process when buying or selling property in Vallancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers and sellers must be aware of the current guideline value to avoid discrepancies during the registration process.

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 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

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

Rajendra Nagar (Ward -1) is classified as Residential Class I Type - II, 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 the 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 of the property. For example, for a plot valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at 7%.