Guideline Value for Rajaji Nagar Main Road

Rajaji Nagar Main Road guideline value

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

The guideline value for Rajaji Nagar Main Road has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged in the subsequent revision in 2017, where it dropped to Rs 1,005 per sq.ft. However, in 2023, the value increased to Rs 1,500 per sq.ft, and further rose to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 7% increase. Notably, the revisions for the years 2002, 2003, and 2007 do not have any figures listed for this street.

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 value for these streets is Rs 2,150 per sq.ft, placing Rajaji Nagar Main Road's 2024 figure below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value totals 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, 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar Main Road?

The Sub Registrar Office that covers Rajaji Nagar Main Road 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 the registration process of property transactions in Rajakilpakkam. It helps determine the stamp duty and registration fees that buyers and sellers must pay, ensuring that the transaction is recorded accurately in the official registers.

When buying or selling property, the guideline value is used as a reference point. It is essential for both parties to be aware of this value, as it impacts the overall cost of the transaction, including the fees payable to the government.

Frequently asked questions

What is the current guideline value of Rajaji Nagar Main Road?

The current guideline value of Rajaji Nagar Main Road 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 1,600 per sq.ft in 2024, with various revisions in between, including a drop to Rs 1,005 per sq.ft in 2017.

What is the median guideline value in Rajakilpakkam?

The median guideline value in Rajakilpakkam is Rs 2,150 per sq.ft, which is higher than the current value of Rajaji Nagar Main Road.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value.

Where is the Sub Registrar Office for Rajaji Nagar Main Road located?

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