Guideline Value for Rajalakshmi Nagar

Rajalakshmi Nagar guideline value

The current guideline value of Rajalakshmi Nagar is Rs 2,450 per sq.ft, effective from 1 July 2024. This area is located in Moulivakkam village and falls under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Rajalakshmi Nagar has changed

The guideline value for Rajalakshmi Nagar has undergone several revisions over the years. Starting from Rs 155 per sq.ft in 2003, it increased significantly to Rs 750 per sq.ft in 2007. The value then jumped to Rs 2,200 per sq.ft in 2012, before decreasing to Rs 1,474 per sq.ft in 2017. The value rose again to Rs 2,200 per sq.ft in 2023, and currently stands at Rs 2,450 per sq.ft as of the 2024 revision.

In terms of percentage changes, the guideline value increased by 384% from 2003 to 2007, followed by a 193% rise from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then saw a significant increase of 49% from 2017 to 2023, and a further rise of 11% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 1481%.

Guideline values in Moulivakkam

In Moulivakkam, there are 44 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 2,000 to Rs 3,900 per sq.ft. The median value for these streets is Rs 2,450 per sq.ft, which is the same as the current guideline value for Rajalakshmi Nagar.

• RajaRajan Nagar: Rs 2,450 per sq.ft (2024)
• RajaRajan Nagar Extension: Rs 2,450 per sq.ft (2024)
• Rajagopal Avenue: Rs 2,450 per sq.ft (2024)
• Rajagopalapuram Avenue: Rs 2,650 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,450 per sq.ft (2024)
• Porur - Kundrathur Road: Rs 2,650 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 2,450 per sq.ft, the total guideline value amounts to Rs 24,50,000. The stamp duty at 7% would be Rs 1,71,500, and the registration fee at 2% would be Rs 49,000, totaling Rs 2,20,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Moulivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar?

The current guideline value of Rajalakshmi Nagar is Rs 2,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 155 per sq.ft in 2003 to Rs 2,450 per sq.ft in 2024, with various increases and decreases over the years.

What are the other streets in Moulivakkam with similar guideline values?

Other streets in Moulivakkam, such as RajaRajan Nagar and Rajiv Gandhi Nagar, also have a guideline value of Rs 2,450 per sq.ft in 2024, reflecting the median value for the area.

What fees are associated with buying property in Rajalakshmi Nagar?

When purchasing property in Rajalakshmi Nagar, buyers should be prepared to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Rajalakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.