Guideline Value for Rajalakshmi Nagar Part III

Rajalakshmi Nagar Part III guideline value

The current guideline value of Rajalakshmi Nagar Part III is Rs 400 per sq.ft. This locality is situated in Vellanthangal village, under the jurisdiction of the Sriperumpudur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Rajalakshmi Nagar Part III has changed

The guideline value for Rajalakshmi Nagar Part III has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 figure was Rs 268 per sq.ft, indicating a decrease of 33% from the previous revision. Following this, the 2023 revision maintained the value at Rs 400 per sq.ft, and the same value was carried into the 2024 revision, showing no change from 2023 to 2024.

From the 2017 revision to the 2023 revision, there was an increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has remained the same, showing a 0% change over this period.

Guideline values in Vellanthangal

In Vellanthangal, there are 9 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 300 to Rs 3,300 per sq.ft. The median value for these streets is Rs 650 per sq.ft, placing Rajalakshmi Nagar Part III below this median.

• Rajalakshmi Nagar: Rs 400 per sq.ft (2024)
• Rajeswari Nagar: Rs 400 per sq.ft (2024)
• Sri Dhanalaxmi Nagar: Rs 650 per sq.ft (2024)
• Symphony Phase -I: Rs 3,300 per sq.ft (2024)
• Symphony Phase -II: Rs 3,300 per sq.ft (2024)
• J.S.R. Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalakshmi Nagar Part III

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, while the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. 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 Rajalakshmi Nagar Part III?

The Sub Registrar Office that covers Rajalakshmi Nagar Part III is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vellanthangal. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is considered to ensure that the fees are calculated fairly based on the value of the property. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Rajalakshmi Nagar Part III?

The current guideline value for Rajalakshmi Nagar Part III is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft since 2012, with a notable increase of 49% from Rs 268 per sq.ft in 2017 to the current rate. The value has shown no change from 2023 to 2024.

What is the land classification for Rajalakshmi Nagar Part III?

The land classification for Rajalakshmi Nagar Part III is Residential Special Type - II, indicating its designated use for residential purposes.

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

For a property valued at Rs 4,00,000, the stamp duty is Rs 28,000 and the registration fee is Rs 8,000, totaling Rs 36,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Rajalakshmi Nagar Part III?

The Sriperumpudur Sub Registrar Office handles property registrations for Rajalakshmi Nagar Part III. It is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.