Guideline Value for RAJESWARI NAGAR

Rajeswari Nagar guideline value

The current guideline value of Rajeswari Nagar, located in Karambakkam village under the Chennai South Joint I SRO, is Rs 2,480 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajeswari Nagar has changed

The guideline value for Rajeswari Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 800 per sq.ft. This increased dramatically to Rs 2,250 per sq.ft in the 2012 revision, marking a rise of 181%. However, in the 2017 revision, the value dropped to Rs 1,507 per sq.ft, a decrease of 33%. The value then rose to Rs 2,250 per sq.ft in the 2023 revision, before reaching the current figure of Rs 2,480 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 210%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,930 per sq.ft, placing Rajeswari Nagar above this median.

• Rajeshwari Nagar Main Road: Rs 2,480 per sq.ft (2024)
• Rajeshwari Nagar Annex: Rs 2,480 per sq.ft (2024)
• Rajeshwari Nagar 3rd Street: Rs 2,480 per sq.ft (2024)
• Rajeshwari Nagar 2nd Street: Rs 2,480 per sq.ft (2024)
• Rajeshwari Nagar 1st Street: Rs 2,480 per sq.ft (2024)
• Rajarajeswari Nagar: Rs 2,480 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,480 per sq.ft, the total guideline value amounts to Rs 24,80,000. The stamp duty at 7% would be Rs 1,73,600, and the registration fee at 2% would be Rs 49,600, bringing the total cost together to Rs 2,23,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajeswari Nagar?

The Sub Registrar Office that covers Rajeswari Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Karambakkam. It serves as a benchmark for determining the minimum value at which property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajeswari Nagar?

The current guideline value of Rajeswari Nagar is Rs 2,480 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 800 per sq.ft in 2007 to Rs 2,480 per sq.ft in 2024, which is an overall increase of 210%.

What is the land classification for Rajeswari Nagar?

The land classification for Rajeswari Nagar is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Rajeswari Nagar?

The Sub Registrar Office for Rajeswari Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Rajeswari Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,80,000, the stamp duty would be Rs 1,73,600 at 7%.