Guideline Value for Rajaji Nagar (Velu Street)

Rajaji Nagar (Velu Street) guideline value

The current guideline value of Rajaji Nagar (Velu Street) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajaji Nagar (Velu Street) has changed

The guideline value for Rajaji Nagar (Velu Street) has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023, marking a change of +7%. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, reflecting a significant increase of +49% over the six years leading to 2023. In 2012, the value was Rs 1,500 per sq.ft, which was a decrease of -33% from the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by +7%.

The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, indicating that the guideline value for Rajaji Nagar (Velu Street) is below this median.

• Rajaji Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar Extn: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 8th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 7th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 5th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar (Velu Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar (Velu Street)?

The Sub Registrar Office that covers Rajaji Nagar (Velu Street) is 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Rajakilpakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

During registration, the guideline value is considered to ensure that the transaction is recorded at a value that reflects the official rates set by the government. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Nagar (Velu Street)?

The current guideline value of Rajaji Nagar (Velu Street) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, which is an increase of +7%. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012, showing a significant increase of +49% from 2017 to 2023.

What is the median guideline value in Rajakilpakkam?

The median guideline value for the 384 streets in Rajakilpakkam is Rs 2,150 per sq.ft. Rajaji Nagar (Velu Street) has a guideline value that is below this median.

What are the registration fees for property in Rajaji Nagar (Velu Street)?

For a property with a guideline value of Rs 16,00,000, the stamp duty at 7% is Rs 1,12,000, and the registration fee at 2% is Rs 32,000, totaling Rs 1,44,000.

Which office handles property registration for Rajaji Nagar (Velu Street)?

The Selaiyur Sub Registrar Office handles property registration for Rajaji Nagar (Velu Street). It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.