Guideline Value for RAJESHWARI NAGAR

Rajeshwari Nagar guideline value

The current guideline value of Rajeshwari Nagar, located in Vengathur village under the Manavalanagar SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - III.

How the guideline value of Rajeshwari Nagar has changed

Over the years, the guideline value for Rajeshwari Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 150 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a rise of 767%. However, from 2012 to 2017, the value decreased to Rs 871 per sq.ft, a drop of 33%. Following this, the value rose to Rs 1,300 per sq.ft in both 2023 and 2024, with no change between these two revisions.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. The overall increase from the 2007 revision to the 2024 revision is 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that have a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Rajeshwari Nagar's 2024 figure above this median.

• Rajivgandhi Street: Rs 1,300 per sq.ft (2024)
• Rajan Avenue: Rs 1,300 per sq.ft (2024)
• Rajaji Street: Rs 1,300 per sq.ft (2024)
• Ramaswamy Street: Rs 800 per sq.ft (2024)
• Ragavendra Street: Rs 1,300 per sq.ft (2024)
• Poonthaleer Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeshwari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the 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 Rajeshwari Nagar?

Rajeshwari Nagar falls under the jurisdiction of the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vengathur. It is the basis for calculating the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is used to determine the applicable fees. This ensures that the transaction is recorded accurately and that all legal obligations are met.

Frequently asked questions

What is the current guideline value of Rajeshwari Nagar?

The current guideline value of Rajeshwari Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several changes, starting from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, followed by a decrease to Rs 871 per sq.ft in 2017, and returning to Rs 1,300 per sq.ft in 2023 and 2024.

What are the stamp duty rates for properties in Rajeshwari Nagar?

The stamp duty rate for properties in Rajeshwari Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Rajeshwari Nagar located?

The Sub Registrar Office covering Rajeshwari Nagar is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the guideline value determined for properties?

The guideline value is determined based on various factors, including land classification and previous revisions. It serves as a reference point for property transactions and is updated periodically by the Registration Department.