Guideline Value for Rajaji Nagar 7th Street

Rajaji Nagar 7th Street guideline value

The current guideline value of Rajaji Nagar 7th 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 area is Residential Class II Type - I.

How the guideline value of Rajaji Nagar 7th Street has changed

The guideline value for Rajaji Nagar 7th Street has seen several revisions over the years. The 2012 revision set the guideline value at Rs 1,500 per sq.ft, which then dropped to Rs 1,005 per sq.ft in the 2017 revision. This was a significant decrease of 33%. However, from 2017 to 2023, the value increased substantially to Rs 1,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Rajaji Nagar 7th 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 that carry a 2024 guideline value, with rates ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 2,150 per sq.ft, which means that the 2024 figure for Rajaji Nagar 7th Street is below this median.

• Rajaji Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 8th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar Extn: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 3rd Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 7th 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. Together, the total cost for stamp duty and registration fee would be Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajaji Nagar 7th Street?

The Sub Registrar Office that covers Rajaji Nagar 7th 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 crucial when buying or selling property as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property transaction process.

When you register a property, the authorities will assess the guideline value to ensure that the transaction is documented accurately. This helps maintain transparency and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 7th Street?

The current guideline value of Rajaji Nagar 7th 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 land classification for Rajaji Nagar 7th Street?

The land classification for Rajaji Nagar 7th Street is Residential Class II Type - I.

What are the other streets in Rajakilpakkam with the same guideline value?

Other streets in Rajakilpakkam with the same guideline value of Rs 1,600 per sq.ft include Rajaji Nagar 6th Street, Rajaji Nagar 8th Street, Rajaji Nagar 5th Street, Rajaji Nagar 4th Street, Rajaji Nagar Extn, and Rajaji Nagar 3rd Street.

Where is the Sub Registrar Office for Rajaji Nagar 7th Street located?

The Sub Registrar Office for Rajaji Nagar 7th Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.