Guideline Value for RAJESH NAGAR

Rajesh Nagar guideline value

The current guideline value of Rajesh Nagar, located in Kosappur village under the Thiruvottiyur SRO, is Rs 1,002 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Rajesh Nagar has changed

The guideline value for Rajesh Nagar has seen significant changes over the years. In 2002, the value was Rs 14 per sq.ft, which increased to Rs 15 per sq.ft in 2003. By 2007, it rose to Rs 100 per sq.ft, and in 2012, it reached Rs 300 per sq.ft. However, there was a decrease to Rs 201 per sq.ft in 2017. The value then saw a substantial increase to Rs 1,002 per sq.ft in both 2023 and 2024, marking a 399% rise from 2017 to 2023.

There are no figures available for the revisions in years other than those stated. The guideline value has increased dramatically overall, from Rs 14 per sq.ft in 2002 to Rs 1,002 per sq.ft in 2024, representing an overall increase of 7057%.

Guideline values in Kosappur

In Kosappur, there are 25 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value for these streets is Rs 1,002 per sq.ft, which aligns with the guideline value for Rajesh Nagar.

• Sai Baba Nagar: Rs 1,002 per sq.ft (2024)
• Perumal Koil Street: Rs 1,002 per sq.ft (2024)
• Padmavathy Nagar: Rs 1,002 per sq.ft (2024)
• Sowbaghiya Nagar: Rs 1,001 per sq.ft (2024)
• Sri Aishwariya Nagar: Rs 1,002 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,002 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 1,002 per sq.ft, the total guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total to Rs 90,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajesh Nagar?

The Sub Registrar Office that covers Rajesh Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kosappur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs that buyers and sellers must consider. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Rajesh Nagar?

The current guideline value of Rajesh Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 14 per sq.ft in 2002 to Rs 1,002 per sq.ft in 2024, reflecting an overall increase of 7057%.

What is the land classification for Rajesh Nagar?

The land classification for Rajesh Nagar is Residential Special Type - II.

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

For a property valued at Rs 10,02,000, the stamp duty would be Rs 70,140 and the registration fee would be Rs 20,040, totaling Rs 90,180.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.