Guideline Value for Rajaji Nagar 3rd Street

Rajaji Nagar 3rd Street guideline value

The current guideline value of Rajaji Nagar 3rd Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Rajaji Nagar 3rd Street has changed

The guideline value for Rajaji Nagar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 established the current value at Rs 1,600 per sq.ft, representing a 7% increase from the previous year.

It is important to note that the register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

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 guideline value for these streets is Rs 2,150 per sq.ft, placing the 2024 figure for Rajaji Nagar 3rd Street below this median.

• Rajaji Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 1st 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)
• Rajaji Nagar 7th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar 3rd Street?

The Sub Registrar Office that covers Rajaji Nagar 3rd 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 during property registration in Rajakilpakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the government collects the appropriate revenue based on the established values for different properties.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the financial aspects of property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 3rd Street?

The current guideline value of Rajaji Nagar 3rd 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 increased 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 property in Rajaji Nagar 3rd Street?

The stamp duty rate for property in Rajaji Nagar 3rd 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 for streets in Rajakilpakkam?

The median guideline value for streets in Rajakilpakkam is Rs 2,150 per sq.ft, which is higher than the current guideline value of Rajaji Nagar 3rd Street.