Guideline Value for Rajalakshmi Nagar Part - II

Rajalakshmi Nagar Part - II guideline value

The current guideline value of Rajalakshmi Nagar Part - II is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Valarpuram village and falls under the Sriperumpudur SRO. The land classification for this locality is Residential Class II Type - I.

How the guideline value of Rajalakshmi Nagar Part - II has changed

The guideline value for Rajalakshmi Nagar Part - II has undergone several revisions over the years. In the 2007 revision, the value was Rs 150 per sq.ft, which increased to Rs 300 per sq.ft in the 2012 revision, marking a 100% rise. However, in the 2017 revision, the value decreased to Rs 201 per sq.ft, reflecting a decline of 33%. The value then rose significantly to Rs 300 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, resulting in a 49% increase from 2017 to 2023.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 100%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 2,025 per sq.ft. The median value is Rs 300 per sq.ft, which is equal to the guideline value of Rajalakshmi Nagar Part - II.

• Rajalakshmi Nagar: Rs 300 per sq.ft (2024)
• Rajendran Nagar: Rs 300 per sq.ft (2024)
• Rajesh Nagar: Rs 300 per sq.ft (2024)
• Rajeswari Nagar: Rs 300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 200 per sq.ft (2024)
• Saraswathi Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalakshmi Nagar Part - II

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total cost for these fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Rajalakshmi Nagar Part - II?

The Sub Registrar Office covering Rajalakshmi Nagar Part - II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valarpuram. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the property is not undervalued during transactions.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the true value of real estate in the area.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar Part - II?

The current guideline value of Rajalakshmi Nagar Part - II is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and returned to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Rajalakshmi Nagar Part - II?

The land classification for Rajalakshmi Nagar Part - II is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Rajalakshmi Nagar Part - II?

The Sub Registrar Office for Rajalakshmi Nagar Part - II is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Rajalakshmi Nagar Part - II?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 3,00,000 would incur a stamp duty of Rs 21,000.