Guideline Value for RAJESWARI GARDEN

Rajeswari Garden guideline value

The current guideline value of Rajeswari Garden is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village under the Neelankarai SRO and is classified as Residential Class I Type - II.

How the guideline value of Rajeswari Garden has changed

The guideline value for Rajeswari Garden has undergone several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. However, from 2017 to 2023, the value saw a significant increase of 124%, rising to Rs 3,000 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 65%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Rajeswari Garden's 2024 figure above this median.

• Rajendran Garen - I: Rs 3,300 per sq.ft (2024)
• Rajendran Garden II: Rs 1,100 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,800 per sq.ft (2024)
• Rajiv Gandhi Nagar Mettu Colony Street: Rs 2,800 per sq.ft (2024)
• Ramachari Garden: Rs 1,000 per sq.ft (2024)
• Rajam Garen: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeswari Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. 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 additional calculations.

Which Sub Registrar Office covers Rajeswari Garden?

The Sub Registrar Office that covers Rajeswari Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chemmancheri. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the transfer of property ownership.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajeswari Garden?

The current guideline value of Rajeswari Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, with notable increases in 2023 and 2024.

What is the land classification of Rajeswari Garden?

Rajeswari Garden is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Rajeswari Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at the current rate.