Guideline Value for Rajarajeswari Nagar Extension

Rajarajeswari Nagar Extension guideline value

The current guideline value of Rajarajeswari Nagar Extension 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 Extension has changed

The guideline value for Rajarajeswari Nagar Extension has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 1,340 per sq.ft. The most recent revision in 2024 shows an increase to Rs 2,200 per sq.ft, indicating a significant change of +64% from the 2017 figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only relevant revisions are from 2017 to 2024.

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 of Rajarajeswari Nagar Extension is below this median.

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

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 cost 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajarajeswari Nagar Extension?

The Rajarajeswari Nagar Extension 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 assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value affects the calculation of stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Rajarajeswari Nagar Extension?

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

How much has the guideline value changed since the last revision?

Since the last revision in 2017, the guideline value has increased by +64%, rising from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024.

Are there any years without recorded guideline values for this street?

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

What is the stamp duty rate in Rajarajeswari Nagar Extension?

The stamp duty rate for property transactions in Rajarajeswari Nagar Extension is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajarajeswari Nagar Extension?

The Velacheri Sub Registrar Office covers Rajarajeswari Nagar Extension and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.