Guideline Value for Rajakipakam & Seliyur Ganesh Nagar Main Road

Rajakipakam & Seliyur Ganesh Nagar Main Road guideline value

The current guideline value of Rajakipakam & Seliyur Ganesh Nagar Main Road is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Rajakipakam & Seliyur Ganesh Nagar Main Road has changed

The guideline value for Rajakipakam & Seliyur Ganesh Nagar Main Road has seen several revisions over the years. In 2012, the value was Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in 2017, reflecting a decline of 33%. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and then rose again to Rs 1,900 per sq.ft in 2024, marking a 6% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has increased by 6%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that have 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 Rajakipakam & Seliyur Ganesh Nagar Main Road's 2024 figure below this median.

• Rajakilpakkam Main Road: Rs 850 per sq.ft (2024)
• Rajakilpakkam 3rd Cross Street: Rs 850 per sq.ft (2024)
• Rajakilpakkam 2nd Cross Street: Rs 850 per sq.ft (2024)
• Rajakilpakkam 1st Cross Street: Rs 850 per sq.ft (2024)
• Rajaji Nagar (Velu 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 Rajakipakam & Seliyur Ganesh Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajakipakam & Seliyur Ganesh Nagar Main Road?

The Sub Registrar Office that covers Rajakipakam & Seliyur Ganesh 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 further assistance.

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

The guideline value is a critical reference point for property transactions in Rajakilpakkam. It is used to determine the stamp duty and registration fees payable when registering a property sale. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When a property is sold, the guideline value is compared to the sale price. The higher amount is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the authorities.

Frequently asked questions

What is the current guideline value for Rajakipakam & Seliyur Ganesh Nagar Main Road?

The current guideline value for Rajakipakam & Seliyur Ganesh Nagar Main Road is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for this area?

Rajakipakam & Seliyur Ganesh Nagar Main Road is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Where can I find the Sub Registrar Office for this area?

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