Guideline Value for Rajarajeswari Nagar (Sri)

Rajarajeswari Nagar (Sri) guideline value

The current guideline value for Rajarajeswari Nagar (Sri) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is part of Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Rajarajeswari Nagar (Sri) has changed

The guideline value for Rajarajeswari Nagar (Sri) has undergone several revisions over the years. The oldest available figure is from the 2017 revision, which was Rs 1,340 per sq.ft. This increased to Rs 2,200 per sq.ft in the 2024 revision, marking a significant change of +64% from the previous figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Rajarajeswari Nagar (Sri) is below this median.

• Raja Rajeswari Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Rajarajeswari Nagar Extension: Rs 2,200 per sq.ft (2024)
• Raja Rajeswari Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Raja Rajeswari Nagar 7th Cross Street: Rs 2,200 per sq.ft (2024)
• Raja Rajeswari Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Raja Rajeswari Nagar 6th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarajeswari Nagar (Sri)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajarajeswari Nagar (Sri)?

The Sub Registrar Office that covers Rajarajeswari Nagar (Sri) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process of property transactions in Madipakkam-1. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it affects the overall costs involved in the transaction. Buyers should be aware that the stamp duty is calculated based on the higher value between the guideline and the sale price.

Frequently asked questions

What is the current guideline value of Rajarajeswari Nagar (Sri)?

The current guideline value of Rajarajeswari Nagar (Sri) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rajarajeswari Nagar (Sri) was Rs 1,340 per sq.ft in 2017 and increased to Rs 2,200 per sq.ft in 2024, which is a change of +64%.

Are there any years with no guideline value figures for this street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Rajarajeswari Nagar (Sri).

What is the registration office for Rajarajeswari Nagar (Sri)?

The Velacheri Sub Registrar Office is the registration office for Rajarajeswari Nagar (Sri), located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Rajarajeswari Nagar (Sri)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.