Guideline Value for Rajaji Nagar 1st Street

Rajaji Nagar 1st Street guideline value

The current guideline value of Rajaji Nagar 1st 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 street is Residential Class II Type - I.

How the guideline value of Rajaji Nagar 1st Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged in the 2017 revision, where it dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The value then saw a significant increase to Rs 1,500 per sq.ft in the 2023 revision, followed by a further rise to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2024, the overall change in the guideline value is an increase of 7%. The increase from 2017 to 2023 was notable at 49%, while the transition from 2023 to 2024 was a modest 7% rise.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, placing Rajaji Nagar 1st Street's 2024 figure below this median.

• Rajaji Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 6th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 1st 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 cost for these fees to Rs 1,44,000. Duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar 1st Street?

The Sub Registrar Office that covers Rajaji Nagar 1st 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 information.

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

The guideline value is a crucial factor in the property registration process in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, 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, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 1st Street?

The current guideline value of Rajaji Nagar 1st 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 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the stamp duty rate for properties in Rajaji Nagar 1st Street?

The stamp duty rate for properties in Rajaji Nagar 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

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

What is the median guideline value in Rajakilpakkam?

The median guideline value for streets in Rajakilpakkam is Rs 2,150 per sq.ft, which is higher than the current value of Rajaji Nagar 1st Street.