Guideline Value for RAJINIKANTH NAGAR

Rajinikanth Nagar guideline value

The current guideline value of Rajinikanth Nagar, located in Palliagaram village under the Salavakkam SRO, is Rs 104 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Rajinikanth Nagar has changed

Over the years, the guideline value of Rajinikanth Nagar has experienced several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which was then reduced to Rs 67 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 100 per sq.ft, and the most recent 2024 revision has raised it further to Rs 104 per sq.ft, marking a 4% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, there has been a slight increase of 4%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Palliagaram

In Palliagaram village, there are seven streets under the Salavakkam SRO that carry a 2024 guideline value, all set at Rs 104 per sq.ft, which is also the median value for these streets. Rajinikanth Nagar's 2024 figure aligns with this median.

• Rajarathinam Nagar: Rs 104 per sq.ft (2024)
• Rb Nagar: Rs 104 per sq.ft (2024)
• Rb Nagar Phase-II: Rs 104 per sq.ft (2024)
• Jyothi Nagar: Rs 104 per sq.ft (2024)
• Jothi Nagar Part-II: Rs 104 per sq.ft (2024)
• Jothi Nagar Part-I: Rs 104 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 104 per sq.ft, the total guideline value would amount to Rs 1,04,000. The stamp duty at 7% would be Rs 7,280, and the registration fee at 2% would be Rs 2,080, bringing the total cost for these fees to Rs 9,360. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Palliagaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the registration process. This ensures that both the buyer and seller are aware of the official value of the property being transacted.

Frequently asked questions

What is the current guideline value of Rajinikanth Nagar?

The current guideline value of Rajinikanth Nagar is Rs 104 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 to Rs 100 per sq.ft in 2023, and finally to Rs 104 per sq.ft in 2024.

What is the land classification for Rajinikanth Nagar?

Rajinikanth Nagar is classified as Residential Special Type - I.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 7,280, and the registration fee would be Rs 2,080, totaling Rs 9,360.

Which office handles property registration for Rajinikanth Nagar?

The Salavakkam Sub Registrar Office handles property registration for Rajinikanth Nagar, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.