Guideline Value for RajaRajeswari Nagar First Main Road

RajaRajeswari Nagar First Main Road guideline value

The current guideline value of RajaRajeswari Nagar First Main Road is Rs 3,200 per sq.ft, effective from 1 July 2024. This road is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of RajaRajeswari Nagar First Main Road has changed

The guideline value for RajaRajeswari Nagar First Main Road has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 3,000 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 2,010 per sq.ft. In 2023, the value increased to Rs 3,000 per sq.ft, and the most recent revision in 2024 raised it further to Rs 3,200 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, followed by a 7% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, placing the 2024 guideline value of RajaRajeswari Nagar First Main Road above this median.

• Rajapandian Avenue Ext.: Rs 1,600 per sq.ft (2024)
• Rajapandian Avenue: Rs 1,600 per sq.ft (2024)
• Rajendran Street: Rs 1,300 per sq.ft (2024)
• Rajakipakam & Seliyur Ganesh Nagar Main Road: Rs 1,900 per sq.ft (2024)
• Rajakilpakkam Main Road: Rs 850 per sq.ft (2024)
• Rajakilpakkam 3rd Cross Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in RajaRajeswari Nagar First Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,200 per sq.ft, the guideline value would be Rs 32,00,000. The stamp duty at 7% would amount to Rs 2,24,000, while the registration fee at 2% would be Rs 64,000, bringing the total to Rs 2,88,000. 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 RajaRajeswari Nagar First Main Road?

The RajaRajeswari Nagar First Main Road falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

When you register a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of RajaRajeswari Nagar First Main Road?

The current guideline value of RajaRajeswari Nagar First Main Road is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 3,200 per sq.ft in 2024, up from Rs 3,000 per sq.ft in 2023, and Rs 2,010 per sq.ft in 2017.

What is the land classification for RajaRajeswari Nagar First Main Road?

RajaRajeswari Nagar First Main Road is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in RajaRajeswari Nagar First Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 32,00,000 would incur a stamp duty of Rs 2,24,000 at a rate of 7%.