Guideline Value for Rajaji Nagar Extn

Rajaji Nagar Extn guideline value

The current guideline value of Rajaji Nagar Extn is Rs 1,600 per sq.ft, effective from 1 July 2024. This area 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 Extn has changed

Over the years, the guideline value for Rajaji Nagar Extn has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in 2017. However, the value increased significantly to Rs 1,500 per sq.ft in 2023 and then rose again to the current rate of Rs 1,600 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, there has been a 7% increase 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, with a median value of Rs 2,150 per sq.ft. The guideline value of Rajaji Nagar Extn is below this median.

• Rajaji Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 8th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar (Velu Street): Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 7th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Rajaji Nagar 5th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar Extn

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 fees 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 details on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar Extn?

The Sub Registrar Office that covers Rajaji Nagar Extn 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 a crucial factor during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are aligned with the official valuation set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Rajaji Nagar Extn?

The current guideline value of Rajaji Nagar Extn 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 Extn?

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

Where is the Sub Registrar Office located for Rajaji Nagar Extn?

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 the stamp duty calculated for properties in Rajaji Nagar Extn?

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