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

Rajeswari Nagar Main Road (Ward -1) guideline value

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

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

Looking back at the revisions, the guideline value for Rajeswari Nagar Main Road (Ward -1) was Rs 700 per sq.ft in 2023, which increased by 10% to Rs 770 per sq.ft in 2024. Prior to that, the value was Rs 469 per sq.ft in 2017, reflecting a significant increase of 49% to reach the 2023 figure. In 2012, the value was Rs 700 per sq.ft, which represented a decrease of 33% from the 2017 figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%, moving from Rs 700 per sq.ft in 2012 to the current Rs 770 per sq.ft. This change reflects the fluctuations in property values over the years, with the most recent revision marking a notable increase.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which is equal to the current guideline value of Rajeswari Nagar Main Road (Ward -1).

• Rajeshwari Nagar (Val): Rs 881 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 881 per sq.ft (2024)
• P.V.N. Avenue Thailavaram (Ward-21): Rs 770 per sq.ft (2024)
• Psa Nagar (Ward -1): Rs 881 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 to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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

The Rajeswari Nagar Main Road (Ward -1) is covered by 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 Thailavaram

The guideline value plays a crucial role in the registration process when buying or selling property in Thailavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

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

The current guideline value of 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 2023 to Rs 770 per sq.ft in 2024, marking a 10% increase. It was Rs 469 per sq.ft in 2017 and Rs 700 per sq.ft in 2012, showing fluctuations over the years.

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

The land classification for Rajeswari Nagar Main Road (Ward -1) is Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Rajeswari Nagar Main Road (Ward -1)?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to understand this value to ensure proper compliance with local regulations.