Guideline Value for Rajalakshmi Nagar

Rajalakshmi Nagar guideline value

The current guideline value of Rajalakshmi Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Mevaloorkuppam village under the Sriperumpudur SRO, classified as Residential Class III 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 2007, the value was Rs 65 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. However, this value dropped to Rs 201 per sq.ft in 2017. The 2023 revision maintained the value at Rs 300 per sq.ft, and the 2024 revision also holds the same figure of Rs 300 per sq.ft, indicating no change between 2023 and 2024.

Overall, from 2007 to 2024, the guideline value has increased by 362%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Rajalakshmi Nagar's current value below this median.

• Rainbow Nagar: Rs 200 per sq.ft (2024)
• Raghavendra Nagar: Rs 900 per sq.ft (2024)
• Poongani Amman Nagar: Rs 200 per sq.ft (2024)
• Santhi Nagar: Rs 300 per sq.ft (2024)
• Saraswathy Nagar: Rs 300 per sq.ft (2024)
• Selliyamman 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 would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total cost Rs 27,000. 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 information.

Which Sub Registrar Office covers Rajalakshmi Nagar?

The Sub Registrar Office covering 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Mevaloorkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

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 65 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then dropped to Rs 201 per sq.ft in 2017, and remained at Rs 300 per sq.ft in both 2023 and 2024.

What is the median guideline value in Mevaloorkuppam?

The median guideline value in Mevaloorkuppam is Rs 400 per sq.ft, while Rajalakshmi Nagar's current value is below this median.

What are the stamp duty and registration fees for property in Rajalakshmi Nagar?

For a 1,000 sq.ft plot at the guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000, with a stamp duty of Rs 21,000 and a registration fee of Rs 6,000, totaling Rs 27,000.

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.