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Guideline Value

Corporate

Guideline Value for Raja Rajeshwari Nagar Main Road 2nd Street

₹2200/sq.ft.

The guideline value for Raja Rajeshwari Nagar Main Road 2nd 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 Main Road 2nd Street

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Raja Rajeshwari Nagar Main Road 2nd Street guideline value

The current guideline value of Raja Rajeshwari Nagar Main Road 2nd 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, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Raja Rajeshwari Nagar Main Road 2nd Street has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. The most recent revision in 2024 increased this value to Rs 2,200 per sq.ft, reflecting a change of +64% over the seven-year period. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions available for Raja Rajeshwari Nagar Main Road 2nd Street are from 2017 and 2024. The significant increase in the guideline value highlights the changes in property valuation over time.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing the 2024 figure for Raja Rajeshwari Nagar Main Road 2nd Street below that median.

Stamp duty and registration fee for property in Raja Rajeshwari Nagar Main Road 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Raja Rajeshwari Nagar Main Road 2nd Street?

The Raja Rajeshwari Nagar Main Road 2nd Street falls under 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 is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the appropriate fees based on the established rates. This process helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Raja Rajeshwari Nagar Main Road 2nd Street?

The current guideline value of Raja Rajeshwari Nagar Main Road 2nd 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, marking a change of +64% over the period.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 have guideline values ranging from Rs 2,200 per sq.ft, with the median value for the area being Rs 2,750 per sq.ft for 2024.

Where can I find the Sub Registrar Office for Raja Rajeshwari Nagar Main Road 2nd Street?

The Sub Registrar Office covering Raja Rajeshwari Nagar Main Road 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000.