Guideline Value for Raja Rajeswari Nagar 7th Street

Raja Rajeswari Nagar 7th Street guideline value

The current guideline value of Raja Rajeswari Nagar 7th 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, with a land classification of Residential Class II Type - I.

How the guideline value of Raja Rajeswari Nagar 7th Street has changed

The guideline value register for Raja Rajeswari Nagar 7th Street shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

As there are no figures available for the previous revisions, there have been no changes between the revisions for this street. The 2024 revision stands alone as the current guideline value.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry 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, placing Raja Rajeswari Nagar 7th Street's 2024 figure below this median.

• Raja Rajeswari Nagar 7th Cross Street: Rs 2,200 per sq.ft (2024)
• Rajarajeswari Nagar Extension: Rs 2,200 per sq.ft (2024)
• Raja Rajeswari Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Raja Rajeswari Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Raja Rajeswari Nagar 6th Cross Street: Rs 2,200 per sq.ft (2024)
• Rajarajeswari Nagar (Sri): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Rajeswari Nagar 7th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Rajeswari Nagar 7th Street?

The Raja Rajeswari Nagar 7th Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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 is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Raja Rajeswari Nagar 7th Street?

The current guideline value of Raja Rajeswari Nagar 7th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There are no figures available for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Raja Rajeswari Nagar 7th Street. The only available figure is from the 2024 revision.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, while Raja Rajeswari Nagar 7th Street's 2024 figure is below this median.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a plot valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles the registration for Raja Rajeswari Nagar 7th Street?

The Velacheri Sub Registrar Office handles the registration for Raja Rajeswari Nagar 7th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.