Guideline Value for RAJESWARI NAGAR

Rajeswari Nagar guideline value

The current guideline value for Rajeswari Nagar, located in Thiruvottiyur village under the Thiruvottiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special 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 2002, the value was Rs 416 per sq.ft. This increased to Rs 488 per sq.ft in 2003, marking a 17% rise. The value further increased to Rs 600 per sq.ft in 2007, which was a 23% increase from the previous year. In 2012, the guideline value was revised to Rs 3,000 per sq.ft, showing a significant increase of 400% from 2007. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%.

The most recent revisions show an increase in the guideline value. In 2023, the value was Rs 3,000 per sq.ft, which then rose to Rs 3,300 per sq.ft in 2024, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 693%.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value across these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value for Rajeswari Nagar.

• Rajiv Gandhi Nagar: Rs 2,800 per sq.ft (2024)
• Raja Shanmugam Nagar/ Extension/Cross Streets: Rs 1,500 per sq.ft (2024)
• Rajiv Nagar: Rs 3,300 per sq.ft (2024)
• Ramanathapuram: Rs 1,900 per sq.ft (2024)
• Ramanujam Street: Rs 3,700 per sq.ft (2024)
• Ramasamy Mudaliyar Nagar: Rs 1,300 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 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to 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 more accurate calculations.

Which Sub Registrar Office covers Rajeswari Nagar?

The Sub Registrar Office that covers Rajeswari Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvottiyur. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable fees. This ensures that all transactions are conducted fairly and transparently, in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Rajeswari Nagar?

The current guideline value of Rajeswari Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 416 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 693% over this period.

What is the land classification of Rajeswari Nagar?

Rajeswari Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes.

How is the stamp duty calculated for properties in Rajeswari Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft would incur a stamp duty of Rs 2,31,000.

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

The Sub Registrar Office for Rajeswari Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.