Guideline Value for Rajalakshmi Nagar

Rajalakshmi Nagar guideline value

The current guideline value of Rajalakshmi Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Thandalam village and falls under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Rajalakshmi Nagar has changed

The guideline value for Rajalakshmi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the subsequent revisions of 2017 and 2023. The 2017 revision recorded a value of Rs 268 per sq.ft, reflecting a decrease of 33% from the 2012 figure. However, from 2017 to 2023, there was a significant increase of 49%, bringing it back to Rs 400 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 400 per sq.ft, showing no change from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Thandalam

In Thandalam, there are 36 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft. The median value across these streets is Rs 400 per sq.ft, which aligns with the guideline value of Rajalakshmi Nagar.

• Rajeswari Nagar: Rs 400 per sq.ft (2024)
• Rajiv Gandhi Main Road: Rs 505 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 400 per sq.ft (2024)
• Puthu Street: Rs 300 per sq.ft (2024)
• Regency Park: Rs 505 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 300 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total 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 further calculations, you can use the stamp duty and registration fee calculator.

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 Thandalam

The guideline value is a critical factor in the registration process when buying or selling property in Thandalam. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps establish a baseline for the transaction, ensuring that both parties are aware of the legal and financial implications of the sale. It is essential for buyers and sellers to understand this value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar?

The current guideline value of Rajalakshmi Nagar 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 the 2012 revision, with a notable increase of 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What is the median guideline value in Thandalam?

The median guideline value in Thandalam is Rs 400 per sq.ft, which is the same as the guideline value for Rajalakshmi Nagar.

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

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

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

Stamp duty for properties in Rajalakshmi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total stamp duty of Rs 28,000 at the current guideline value.