Guideline Value for RAJESH NAGAR

Rajesh Nagar guideline value

The current guideline value of Rajesh Nagar, located in Venkatapuram village under the Chengleput Joint II SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Rajesh Nagar has changed

In the 2007 revision, the guideline value was Rs 60 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 400 per sq.ft, marking a change of +567%. However, from 2012 to 2017, the value decreased to Rs 268 per sq.ft, a drop of -33%. The subsequent revisions saw the value return to Rs 400 per sq.ft in both 2023 and 2024, with no change between these two years.

From 2017 to 2023, the guideline value increased by +49%. Overall, from 2007 to 2024, the guideline value has risen by +567%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 29 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median value is Rs 400 per sq.ft, which is equal to the guideline value of Rajesh Nagar.

• Rainbow Garden: Rs 1,344 per sq.ft (2024)
• Ragavendra Nagar: Rs 400 per sq.ft (2024)
• Plantinam Nagar Phase-II: Rs 500 per sq.ft (2024)
• Sairam Nagar: Rs 500 per sq.ft (2024)
• Sairam Nagar Extension II: Rs 1,200 per sq.ft (2024)
• Sairam Nagar Extn: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Rajesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajesh Nagar?

Rajesh Nagar falls under 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 Venkatapuram

The guideline value plays a crucial role in the registration process of property transactions in Venkatapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Rajesh Nagar?

The current guideline value of Rajesh Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 60 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreasing to Rs 268 per sq.ft in 2017, and returning to Rs 400 per sq.ft in both 2023 and 2024.

What is the land classification for Rajesh Nagar?

Rajesh Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

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

The Chengleput Joint II Sub Registrar Office covers Rajesh Nagar and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Rajesh Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000, leading to a stamp duty of Rs 28,000.