Guideline Value for Rajalaxmi Nagar

Rajalaxmi Nagar guideline value

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

How the guideline value of Rajalaxmi Nagar has changed

Over the years, the guideline value for Rajalaxmi Nagar has seen several revisions. The register shows that there was no figure for this street in the years 2002, 2003, 2007, and 2012. The 2017 revision set the guideline value at Rs 268 per sq.ft, which was then increased to Rs 400 per sq.ft in both the 2023 and 2024 revisions, reflecting a 49% increase from 2017 to 2023 and maintaining the same rate from 2023 to 2024.

From the 2017 revision to the current 2024 rate, there has been a consistent increase of 49%. This stability in the guideline value over the last two years indicates that the rate has remained unchanged since 2023.

Guideline values in Irunkattukottai_B

In Irunkattukottai_B, there are 54 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 1,200 per sq.ft. The median guideline value in this area is Rs 400 per sq.ft, which is equal to the current value for Rajalaxmi Nagar.

• Rajaji Street: Rs 400 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 400 per sq.ft (2024)
• Prasanthi Nagar: Rs 800 per sq.ft (2024)
• Plot Street: Rs 400 per sq.ft (2024)
• Sabari Nagar: Rs 400 per sq.ft (2024)
• Periyar Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalaxmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value is Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would amount to Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajalaxmi Nagar?

The Sub Registrar Office that covers Rajalaxmi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Irunkattukottai_B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajalaxmi Nagar?

The current guideline value of Rajalaxmi 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 2023, with a significant increase of 49% from Rs 268 per sq.ft in 2017 to the current rate.

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

Other streets in Irunkattukottai_B with a guideline value of Rs 400 per sq.ft include Rajaji Street, Rajiv Gandhi Street, Plot Street, and Sabari Nagar. Prasanthi Nagar has a higher rate of Rs 800 per sq.ft, while Periyar Street is valued at Rs 600 per sq.ft.

Where is the Sub Registrar Office for Rajalaxmi Nagar located?

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

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a plot valued at Rs 4,00,000, the stamp duty would be Rs 28,000.