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Guideline Value

Corporate

Guideline Value for Rajalakshmi Nagar 1st Cross Street

₹4400/sq.ft.

The guideline value for Rajalakshmi Nagar 1st Cross Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Rajalakshmi Nagar 1st Cross Street

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Rajalakshmi Nagar 1st Cross Street guideline value

The current guideline value of Rajalakshmi Nagar 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Rajalakshmi Nagar 1st Cross Street has changed

The guideline value for Rajalakshmi Nagar 1st Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft. This increased to Rs 2,680 per sq.ft in the 2017 revision, marking a change of 49%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, reflecting a significant increase of 64% from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 144%. The register does not have figures for the years 2023, 2012, 2003, and 2002 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which aligns with the current guideline value for Rajalakshmi Nagar 1st Cross Street.

Stamp duty and registration fee for property in Rajalakshmi Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 Rajalakshmi Nagar 1st Cross Street?

The Rajalakshmi Nagar 1st Cross Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Velachery. It serves as a reference point for determining the minimum value of a property, ensuring that transactions are conducted fairly and transparently. The guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When registering a property, the guideline value helps in establishing the official value of the property, which can influence the overall costs involved in the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar 1st Cross Street?

The current guideline value of Rajalakshmi Nagar 1st Cross Street is Rs 4,400 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 2007 to Rs 2,680 per sq.ft in 2017, and finally to Rs 4,400 per sq.ft in 2024. This represents an overall increase of 144% from 2007 to 2024.

What is the stamp duty for property in Rajalakshmi Nagar 1st Cross Street?

The stamp duty for property in Rajalakshmi Nagar 1st Cross Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 3,08,000.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Rajalakshmi Nagar 1st Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Where can I find more information about guideline values in Velachery?

For more information about guideline values in Velachery, you can refer to the Registration Department's guideline value register or check specific streets through the provided links.