Guideline Value for Rajalakshmi Nagar

Rajalakshmi Nagar guideline value

The current guideline value of Rajalakshmi Nagar, located in Vellanthangal village under the Sriperumpudur SRO, is Rs 400 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Rajalakshmi Nagar has changed

The guideline value for Rajalakshmi Nagar has seen several revisions over the years. The 2007 revision set the guideline value at Rs 45 per sq.ft, which significantly increased to Rs 400 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 268 per sq.ft. The 2023 revision maintained the value at Rs 400 per sq.ft, and the same value continues into the 2024 revision, indicating no change from the previous year.

In summary, from the 2017 revision to the 2023 revision, there was an increase of 49%. The overall change from the 2007 revision to the 2024 revision reflects an increase of 789%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vellanthangal

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

• Rajalakshmi Nagar Part III: 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

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 is charged at 7%, amounting to Rs 28,000, while the registration fee is charged at 2%, totaling Rs 8,000. Therefore, the combined cost for stamp duty and registration fee is 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 details, 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 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 applicable to the transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the duty will be calculated based on the higher of the two values.

Understanding the guideline value is essential for property transactions, as it ensures compliance with local regulations and helps in assessing the financial implications of the sale. It is advisable for buyers to consult the latest guideline values 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 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 45 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and remained at Rs 400 per sq.ft in 2023 and 2024.

What is the land classification for Rajalakshmi Nagar?

The land classification for Rajalakshmi Nagar is Residential Special Type - II.

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

The stamp duty is charged at 7% and the registration fee at 2%. For a property valued at Rs 4,00,000, the total fees would be Rs 36,000.

Which office handles registrations for Rajalakshmi Nagar?

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