Guideline Value for Rajaji Nagar 1st Street

Rajaji Nagar 1st Street guideline value

The current guideline value of Rajaji Nagar 1st 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. The land classification for this area is Residential Class II Type - I.

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

The guideline value register shows no figures for Rajaji Nagar 1st Street in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only revision available is from 2024, which sets the guideline value at Rs 2,200 per sq.ft.

As there are no changes between the revisions, the current figure remains the only one for this street. The 2024 revision marks the first entry in the register for Rajaji Nagar 1st Street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Rajaji Nagar 1st Street's value below the median.

• Rajaji Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 3rd Cross Street: Rs 2,200 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 2,200 per sq.ft, the total 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 fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed 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 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 a crucial factor in property transactions within Madipakkam-1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

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 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 Rajaji Nagar 1st Street in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available revision is from 2024.

What is the land classification for Rajaji Nagar 1st Street?

Rajaji Nagar 1st Street is classified as Residential Class II Type - I, indicating its intended use for residential purposes.

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 registrations for properties in the area.

How is the stamp duty calculated for properties in Rajaji Nagar 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.