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 street is located in Mevaloorkuppam B village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Rajalakshmi Nagar has changed

In the 2017 revision, the guideline value was Rs 201 per sq.ft. This figure remained unchanged at Rs 300 per sq.ft in the 2023 revision and continued at the same rate in the 2024 revision, showing no percentage change from 2023 to 2024. The overall change from 2017 to 2024 is an increase of 49%.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The 2024 guideline value of Rs 300 per sq.ft is below the median guideline value of Rs 400 per sq.ft for the 84 streets in Mevaloorkuppam B under the Sriperumpudur SRO.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, the guideline values range from Rs 100 to Rs 6,200 per sq.ft as of the 2024 revision. The street of Rajalakshmi Nagar is positioned below the median value of Rs 400 per sq.ft. The following are the guideline values for other streets in Mevaloorkuppam B:

• Rainbow Nagar: Rs 100 per sq.ft (2024)
• Raghavendra Nagar: Rs 1,320 per sq.ft (2024)
• Prasad Nagar: Rs 1,320 per sq.ft (2024)
• Poongani Amman Nagar: Rs 100 per sq.ft (2024)
• Peyariadapadatha Manaipirivu: Rs 1,320 per sq.ft (2024)
• Perumal Koil Street: Rs 400 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, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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 further assistance.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use the guideline value to calculate applicable fees.

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 due revenue from property transactions in the area.

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?

From the 2017 revision of Rs 201 per sq.ft to the 2024 revision, the guideline value has increased by 49%. The value remained unchanged at Rs 300 per sq.ft from 2023 to 2024.

What are the guideline values of other streets in Mevaloorkuppam B?

Other streets in Mevaloorkuppam B have varying guideline values ranging from Rs 100 to Rs 1,320 per sq.ft as of the 2024 revision. The median value for the area is Rs 400 per sq.ft.

How is stamp duty calculated in Rajalakshmi Nagar?

Stamp duty in Rajalakshmi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.

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.