Guideline Value for Rajaji Nagar 2nd Street

Rajaji Nagar 2nd Street guideline value

The current guideline value of Rajaji Nagar 2nd 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 2nd Street has changed

The guideline value register for Rajaji Nagar 2nd Street 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 available, the current guideline value remains the only figure listed for this street in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,750 per sq.ft, placing Rajaji Nagar 2nd Street's 2024 figure below this median.

• Rajaji Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be 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, making the total fees together 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 information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar 2nd Street?

The Sub Registrar Office that covers Rajaji Nagar 2nd 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 details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a critical factor during property registration in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property in the area.

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 duties, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 2nd Street?

The current guideline value of Rajaji Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

What revisions have been made to the guideline value of Rajaji Nagar 2nd Street?

The guideline value register shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only figure available is from the 2024 revision.

How does Rajaji Nagar 2nd Street's guideline value compare to other streets in Madipakkam-1?

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft. Rajaji Nagar 2nd Street's 2024 figure of Rs 2,200 per sq.ft is below this median.

What are the stamp duty and registration fees for properties on Rajaji Nagar 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000. The stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Rajaji Nagar 2nd Street?

The Velacheri Sub Registrar Office handles the registration for Rajaji Nagar 2nd Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.