Guideline Value for Rajaji Nagar 5th Street

Rajaji Nagar 5th Street guideline value

The current guideline value of Rajaji Nagar 5th Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Class II Type - I.

How the guideline value of Rajaji Nagar 5th Street has changed

The guideline value for Rajaji Nagar 5th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 1,500 per sq.ft, and then it rose again by 7% to the current value of Rs 1,600 per sq.ft effective from July 2024.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 concerning this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value in the area is Rs 2,150 per sq.ft, indicating that the value for Rajaji Nagar 5th Street is below this median.

• Rajaji Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 7th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 8th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 5th 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, totaling Rs 1,44,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajaji Nagar 5th Street?

The Sub Registrar Office that covers Rajaji Nagar 5th 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Rajakilpakkam, as it determines the minimum value for registration purposes. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that all parties adhere to the legal requirements.

It is important for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Accurate knowledge of the guideline value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 5th Street?

The current guideline value of Rajaji Nagar 5th 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, reflecting a 7% increase. From 2017 to 2023, it increased by 49%, while it decreased from Rs 1,500 to Rs 1,005 between 2012 and 2017.

What is the land classification for Rajaji Nagar 5th Street?

Rajaji Nagar 5th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Rajaji Nagar 5th Street?

The Sub Registrar Office for Rajaji Nagar 5th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for properties in Rajaji Nagar 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.