Guideline Value for RAJINIKANTH NAGAR

Rajinikanth Nagar guideline value

The current guideline value of Rajinikanth Nagar in Nelli village is Rs 103 per sq.ft, effective from 1 July 2024. This area falls under the Salavakkam SRO and is classified as Residential Special Type - I.

How the guideline value of Rajinikanth Nagar has changed

Over the years, the guideline value for Rajinikanth Nagar has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft. The following revision in 2023 brought the value back to Rs 100 per sq.ft, and the most recent 2024 revision increased it to Rs 103 per sq.ft, marking a 3% increase from the previous year.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 3%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nelli

In Nelli village, there are 25 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 103 per sq.ft, with the median value being Rs 103 per sq.ft. Rajinikanth Nagar's 2024 figure matches this median value.

• Raman Nagar: Rs 103 per sq.ft (2024)
• Rasi Nagar: Rs 103 per sq.ft (2024)
• Rb -Nagar: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-1: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-2: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Rajinikanth Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value would be Rs 1,03,000. The stamp duty at 7% would amount to Rs 7,210, and the registration fee at 2% would be Rs 2,060, bringing the total charges to Rs 9,270. 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 details.

Which Sub Registrar Office covers Rajinikanth Nagar?

The Sub Registrar Office that covers Rajinikanth Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nelli. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rajinikanth Nagar?

The current guideline value of Rajinikanth Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification of Rajinikanth Nagar?

Rajinikanth Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Rajinikanth Nagar?

For a property valued at Rs 1,03,000, the stamp duty would be Rs 7,210 and the registration fee would be Rs 2,060, totaling Rs 9,270.

Where can I find more information about the Sub Registrar Office?

The Salavakkam Sub Registrar Office covers Rajinikanth Nagar, and its address is 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. More details can be found by visiting the relevant link.