Guideline Value for Rajarajeswari Nagar 1st Cross Street

Rajarajeswari Nagar 1st Cross Street guideline value

The current guideline value of Rajarajeswari Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Rajarajeswari Nagar 1st Cross Street has changed

The guideline value for Rajarajeswari Nagar 1st Cross Street has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. With the 2024 revision, it increased to Rs 2,200 per sq.ft, marking a change of +64% from the previous figure.

There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. The only revisions with reported figures are from 2017 and 2024.

Guideline values in Madipakkam-1

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

• Rajarajeswari Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Raja Rajeswari Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Raja Rajeswari Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Raja Rajeswari Nagar: Rs 2,200 per sq.ft (2024)
• Raja Rajeswari Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Raja Rajeswari Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarajeswari Nagar 1st Cross Street

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

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajarajeswari Nagar 1st Cross Street?

The Rajarajeswari Nagar 1st Cross Street falls under 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 details.

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

When buying or selling property in Madipakkam-1, the guideline value is a crucial factor as it determines the stamp duty and registration fees payable at the time of registration. This value is set by the Registration Department and is regularly revised to reflect current market conditions.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures compliance with legal requirements during property transactions. Understanding this value helps in accurately calculating the costs associated with property registration.

Frequently asked questions

What is the current guideline value of Rajarajeswari Nagar 1st Cross Street?

The current guideline value of Rajarajeswari Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, representing a change of +64%.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current value of Rajarajeswari Nagar 1st Cross Street.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Rajarajeswari Nagar 1st Cross Street located?

The Velacheri Sub Registrar Office, which covers Rajarajeswari Nagar 1st Cross Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.