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Guideline Value

Corporate

Guideline Value for Raja Rajeshwari Nagar 1st Street

₹2200/sq.ft.

The guideline value for Raja Rajeshwari Nagar 1st Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Raja Rajeshwari Nagar 1st Street

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Raja Rajeshwari Nagar 1st Street guideline value

The current guideline value of Raja Rajeshwari Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Raja Rajeshwari Nagar 1st Street has changed

The guideline value for Raja Rajeshwari Nagar 1st Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. With the latest 2024 revision, the value increased to Rs 2,200 per sq.ft, marking a significant change of +64% from the 2017 figure. Notably, the register has no figure for this street for the years 2023, 2012, 2007, 2003, and 2002.

In summary, the guideline value rose from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024. This increase reflects the changes in the valuation of properties in the area, aligning with the revisions made by the Registration Department.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, positioning Raja Rajeshwari Nagar 1st Street's 2024 figure below this median.

Stamp duty and registration fee for property in Raja Rajeshwari Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is calculated at 7%, which totals Rs 1,54,000, and the registration fee at 2% amounts to Rs 44,000. Together, these fees total Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Rajeshwari Nagar 1st Street?

The Raja Rajeshwari Nagar 1st Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Raja Rajeshwari Nagar 1st Street?

The current guideline value of Raja Rajeshwari Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, reflecting a change of +64%.

Are there any years with no guideline value for this street?

Yes, the register has no figure for Raja Rajeshwari Nagar 1st Street for the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which is above the current guideline value of Raja Rajeshwari Nagar 1st Street.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.