Guideline Value for Rajaji Nagar 8th Street

Rajaji Nagar 8th Street guideline value

The current guideline value for Rajaji Nagar 8th 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 8th Street has changed

Over the years, the guideline value for Rajaji Nagar 8th Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2023 and further increased to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. Overall, comparing the 2012 and 2024 revisions, there is a slight increase of 7% in the guideline value.

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 for these streets is Rs 2,150 per sq.ft, indicating that Rajaji Nagar 8th Street's 2024 value is below this median.

• Rajaji Nagar 7th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar Extn: 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 Main Road: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 8th Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total cost would be 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajaji Nagar 8th Street?

The Sub Registrar Office that covers Rajaji Nagar 8th 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.

To find your SRO, you can visit find your SRO.

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

When buying or selling property in Rajakilpakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. This value is set by the government and is used to calculate the taxes owed during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. The guideline value is a reference point for both parties involved in the sale, ensuring transparency in the registration process.

Frequently asked questions

What is the current guideline value for Rajaji Nagar 8th Street?

The current guideline value for Rajaji Nagar 8th 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 8th Street?

Rajaji Nagar 8th Street is classified as Residential Class II Type - I.

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.

How is stamp duty calculated for properties in Rajaji Nagar 8th Street?

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