Guideline Value for RAJESWARI NAGAR

Rajeswari Nagar guideline value

The current guideline value of Rajeswari Nagar, located in Chinnakavanam village under the Ponneri SRO, is Rs 300 per sq.ft. This value is effective from the 2024 revision, which took effect on 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 several revisions over the years. In 2012, the guideline value was Rs 200 per sq.ft, which decreased to Rs 134 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 124%, bringing the value back to Rs 300 per sq.ft in 2023, which remained unchanged in 2024.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 50%, settling at Rs 300 per sq.ft as of the latest revision.

Guideline values in Chinnakavanam

In Chinnakavanam, there are 28 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 400 per sq.ft, with a median of Rs 300 per sq.ft. Rajeswari Nagar's 2024 figure aligns with this median.

• Ramaswami Mudhali Street: Rs 300 per sq.ft (2024)
• Rasi Garden @ Gomathi Amman Nagar: Rs 400 per sq.ft (2024)
• Ponneri - Pudhuvoyal Road: Rs 300 per sq.ft (2024)
• Perumbedu Salai: Rs 300 per sq.ft (2024)
• Periya Thambi Mudali St: Rs 300 per sq.ft (2024)
• Pazaverkadu Salai: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeswari Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajeswari Nagar?

The Sub Registrar Office that covers Rajeswari Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For further assistance, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Chinnakavanam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rajeswari Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023 and remained the same in 2024.

What is the registration office for Rajeswari Nagar?

The registration office for Rajeswari Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Rajeswari Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at 7%.

What is the land classification for Rajeswari Nagar?

The land classification for Rajeswari Nagar is Residential Class II Type - I, indicating its designated use for residential purposes.