Guideline Value for RAJESWARI NAGAR MAIN ROAD (WARD -1)

Rajeswari Nagar Main Road (Ward -1) guideline value

The current guideline value for Rajeswari Nagar Main Road (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Potheri village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

How the guideline value of Rajeswari Nagar Main Road (Ward -1) has changed

The guideline value for Rajeswari Nagar Main Road has undergone several revisions over the years. The earliest registered figure is from 2012, where the value was Rs 700 per sq.ft. In 2017, it decreased to Rs 469 per sq.ft, a change of -33%. However, by 2023, the value increased significantly to Rs 700 per sq.ft, and then rose again to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is +10%. The 2023 revision registered a value of Rs 700 per sq.ft, which was a 49% increase from the 2017 revision. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which matches the current value for Rajeswari Nagar Main Road.

• Rajeshwari Nagar (Val): Rs 880 per sq.ft (2024)
• Rajendra Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Rajivgandhi Street (Ward-21): Rs 660 per sq.ft (2024)
• Ramani Thottam (Ward-20): Rs 880 per sq.ft (2024)
• P.V.N. Avenue Thailavaram (Ward-21): Rs 770 per sq.ft (2024)
• Psa Nagar (Ward -1): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeswari Nagar Main Road (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. Please 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 further calculations.

Which Sub Registrar Office covers Rajeswari Nagar Main Road (Ward -1)?

The Sub Registrar Office that covers Rajeswari Nagar Main Road (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Potheri, as it determines the amount of stamp duty and registration fees payable at the time of registration. Buyers should be aware that the guideline value is used to calculate these fees, ensuring transparency in property transactions.

When a property is sold, the guideline value serves as a benchmark for the transaction, and it is essential for both buyers and sellers to understand the implications of this value on their financial obligations. It is advisable to check the latest guideline values regularly to stay informed about any changes that may affect property transactions.

Frequently asked questions

What is the current guideline value for Rajeswari Nagar Main Road (Ward -1)?

The current guideline value for Rajeswari Nagar Main Road (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Rajeswari Nagar Main Road (Ward -1)?

Rajeswari Nagar Main Road (Ward -1) is classified as Residential Class I Type - III.

Which Sub Registrar Office covers Rajeswari Nagar Main Road (Ward -1)?

The Chengleput Joint II Sub Registrar Office covers Rajeswari Nagar Main Road (Ward -1), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Potheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 7,70,000, the stamp duty at 7% would be Rs 53,900.