Guideline Value for Rajalakshmi Nagar

Rajalakshmi Nagar guideline value

The current guideline value for Rajalakshmi Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This locality is situated in Mannoor village, under the Sriperumpudur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rajalakshmi Nagar has changed

The guideline value for Rajalakshmi Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 175 per sq.ft. This increased to Rs 300 per sq.ft in the 2012 revision, marking a significant rise of 71%. However, in the 2017 revision, the value was adjusted down to Rs 201 per sq.ft, reflecting a decrease of 33%. The value then rose again 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.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 71%.

Guideline values in Mannoor

In Mannoor village, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, indicating that Rajalakshmi Nagar's 2024 figure is above this median.

• Rajaji Nagar: Rs 500 per sq.ft (2024)
• Ramji Street: Rs 250 per sq.ft (2024)
• Ram Nagar: Rs 300 per sq.ft (2024)
• Poonthottam Street: Rs 200 per sq.ft (2024)
• Polatchiyamman Koil Street: Rs 200 per sq.ft (2024)
• Perumal Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalakshmi Nagar

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, while the registration fee at 2% would be Rs 6,000, making the total fees Rs 27,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Rajalakshmi Nagar?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mannoor. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is considered alongside the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees reflect the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar?

The current guideline value of Rajalakshmi Nagar 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 175 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 are the other streets in Mannoor and their guideline values?

Other streets in Mannoor include Rajaji Nagar at Rs 500 per sq.ft, Ramji Street at Rs 250 per sq.ft, Ram Nagar at Rs 300 per sq.ft, and Poonthottam Street, Polatchiyamman Koil Street, and Perumal Koil Street, each at Rs 200 per sq.ft.

How is stamp duty calculated for properties in Rajalakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at Rs 300 per sq.ft has a guideline value of Rs 3,00,000, leading to a stamp duty of Rs 21,000.

Where is the Sub Registrar Office for Rajalakshmi Nagar located?

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