Guideline Value for RAJESWARI NAGAR

Rajeswari Nagar guideline value

The current guideline value of Rajeswari Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is part of Thiruvanmiyur village and falls under the Chennai South Joint I SRO, classified as Residential Class V Type - III.

How the guideline value of Rajeswari Nagar has changed

In the 2012 revision, the guideline value for Rajeswari Nagar was Rs 3,200 per sq.ft. This figure remained the same in the 2012 revision until it dropped to Rs 2,144 per sq.ft in the 2017 revision, marking a decrease of 33%. From 2017 to 2023, the value increased significantly by 49%, reaching Rs 3,200 per sq.ft. The most recent revision in 2024 saw a further increase to Rs 3,520 per sq.ft, which is a rise of 10% from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, indicating that Rajeswari Nagar's 2024 figure is below this median.

• Raji Street: Rs 9,900 per sq.ft (2024)
• Rajasrinivasa Nagar: Rs 9,900 per sq.ft (2024)
• Raju Street: Rs 7,160 per sq.ft (2024)
• Raja Rangasamy Avenue: Rs 7,160 per sq.ft (2024)
• Ramalinga Nagar: Rs 9,900 per sq.ft (2024)
• Rajaji Nagar Main Road: Rs 9,900 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 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty, charged at 7%, would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400. Together, these fees total Rs 3,16,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

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 Thiruvanmiyur

The guideline value is a crucial factor in property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately for taxation purposes.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the total cost of purchasing a property.

Frequently asked questions

What is the current guideline value of Rajeswari Nagar?

The current guideline value of Rajeswari Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Rajeswari Nagar?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 3,16,800 in fees.

Which Sub Registrar Office covers Rajeswari Nagar?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum sale price of a property and is essential for calculating the stamp duty and registration fees during property transactions in Thiruvanmiyur.