Guideline Value for RAJENDRA NAGAR

Rajendra Nagar guideline value

The current guideline value of Rajendra Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Rajendra Nagar has changed

The guideline value for Rajendra Nagar has seen several revisions over the years. The earliest recorded value was in 2012 at Rs 5,000 per sq.ft. This was followed by a decrease to Rs 3,350 per sq.ft in 2017. The 2023 revision set the value at Rs 5,000 per sq.ft, which then increased to Rs 5,500 per sq.ft in 2024, marking a 10% rise from the previous year.

Between the years, the changes were significant. From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO carrying a guideline value for 2024, ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value across these streets is Rs 2,530 per sq.ft, positioning Rajendra Nagar's 2024 figure above this median.

• Rajendra Nagar Extn: Rs 5,500 per sq.ft (2024)
• Rajendra Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Rajamanickam Nagar: Rs 5,500 per sq.ft (2024)
• Ramasamy 1st Street: Rs 2,160 per sq.ft (2024)
• Ramaswamy Street: Rs 2,160 per sq.ft (2024)
• Ragavan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that 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?

The Sub Registrar Office that covers Rajendra Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Kilkattalai, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with registration laws.

When a property is sold, the guideline value serves as a reference point for the transaction. If the sale price is higher than the guideline value, the duty will be calculated based on the sale price, ensuring that all property transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Rajendra Nagar?

The current guideline value of Rajendra Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then back to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for Rajendra Nagar?

Rajendra Nagar is classified as Commercial Class I Type - I, which indicates its commercial potential and usage.

What are the stamp duty and registration fees for property in Rajendra Nagar?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.

Where can I find the Sub Registrar Office for Rajendra Nagar?

The Sub Registrar Office for Rajendra Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, under the Chengalpattu registration zone.