Guideline Value for RAJESEKARAN NAGAR ANNEX

Rajesekaran Nagar Annex guideline value

The current guideline value of Rajesekaran Nagar Annex is Rs 1,320 per sq.ft, effective from 1 July 2024. This locality is situated in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Rajesekaran Nagar Annex has changed

The guideline value for Rajesekaran Nagar Annex has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This was followed by a decrease in the 2017 revision to Rs 804 per sq.ft, which represented a decline of 33%. The value then increased significantly in the 2023 revision to Rs 1,200 per sq.ft, showing a rise of 49%. The most recent revision in 2024 has set the value at Rs 1,320 per sq.ft, reflecting an increase of 10% from the previous year.

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

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Rajesekaran Nagar Annex's 2024 figure below that median.

• Rajesh Nagar: Rs 2,420 per sq.ft (2024)
• Rajesh Nagar 1st Main Road Cross Street: Rs 2,420 per sq.ft (2024)
• Rajesh Nagar 5th Main Road: Rs 2,420 per sq.ft (2024)
• Rajesh Nagar Extn.: Rs 2,200 per sq.ft (2024)
• Rajesh Nagar Extn 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Rajesh Nagar Extn.4th Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajesekaran Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajesekaran Nagar Annex?

The Sub Registrar Office that covers Rajesekaran Nagar Annex is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Pallikaranai. It serves as a benchmark for determining the minimum value of the property for registration purposes. Buyers and sellers must be aware that the guideline value impacts the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable duties. If the sale price is higher than the guideline value, the stamp duty is charged on the sale price instead.

Frequently asked questions

What is the current guideline value of Rajesekaran Nagar Annex?

The current guideline value of Rajesekaran Nagar Annex is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Rajesekaran Nagar Annex?

Rajesekaran Nagar Annex is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations in Rajesekaran Nagar Annex?

The Chennai South Joint I Sub Registrar Office handles property registrations in Rajesekaran Nagar Annex, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.