Guideline Value for RAJESH NAGAR EXTN.

Rajesh Nagar Extn. guideline value

The current guideline value of Rajesh Nagar Extn. is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this region is Residential Class II Type - I.

How the guideline value of Rajesh Nagar Extn. has changed

The guideline value for Rajesh Nagar Extn. has seen significant changes over the years. In 2002, the value was Rs 162 per sq.ft, which increased to Rs 191 per sq.ft in 2003, marking an 18% rise. The value then surged to Rs 500 per sq.ft in 2007, representing a 162% increase. Following this, the value remained at Rs 2,000 per sq.ft from 2012 until 2023, showing no change during this period. In 2024, the guideline value was revised to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1258%.

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, with a median value of Rs 1,650 per sq.ft. The guideline value for Rajesh Nagar Extn. is above this median.

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

Stamp duty and registration fee for property in Rajesh Nagar Extn.

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajesh Nagar Extn.?

The Sub Registrar Office that covers Rajesh Nagar Extn. 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 information.

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

The guideline value is a crucial factor when buying or selling property in Pallikaranai, as it determines the amount of stamp duty and registration fees payable. Buyers should be aware that the guideline value is set by the government and is used to calculate the taxes associated with property transactions.

When registering a property, the buyer must pay stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajesh Nagar Extn.?

The current guideline value of Rajesh Nagar Extn. is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 162 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1258%.

What are the stamp duty and registration fees for a property in Rajesh Nagar Extn.?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Rajesh Nagar Extn.?

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

Are there any years without a guideline value for Rajesh Nagar Extn.?

Yes, there is no guideline value available for Rajesh Nagar Extn. for the year 2017 in the register.