Guideline Value for Raja Rajeswari Nagar Main Road

Raja Rajeswari Nagar Main Road guideline value

The current guideline value of Raja Rajeswari Nagar Main Road 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 is classified as Residential Class II Type - I.

How the guideline value of Raja Rajeswari Nagar Main Road has changed

The guideline value register for Raja Rajeswari Nagar Main Road 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 have been no changes between the revisions, the current guideline value remains the only figure recorded for this street in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Raja Rajeswari Nagar Main Road's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Raja Rajeswari Nagar Main Road

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raja Rajeswari Nagar Main Road?

The Raja Rajeswari Nagar Main Road 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 is an important factor in the registration process for property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from the transaction.

Frequently asked questions

What is the current guideline value of Raja Rajeswari Nagar Main Road?

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

How has the guideline value changed over the years?

There have been no recorded figures for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Raja Rajeswari Nagar Main Road. The only available figure is from the 2024 revision.

What is the land classification for Raja Rajeswari Nagar Main Road?

Raja Rajeswari Nagar Main Road is classified as Residential Class II Type - I according to the guideline value register.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,98,000.

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. This office handles the registration of properties in the area.