Guideline Value for Rajarajeswari Nagar

Rajarajeswari Nagar guideline value

The current guideline value of Rajarajeswari Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Rajarajeswari Nagar has changed

Over the years, the guideline value of Rajarajeswari Nagar has seen significant changes. The 2007 revision set the value at Rs 525 per sq.ft, which increased dramatically to Rs 2,700 per sq.ft in 2012, marking a rise of 414%. However, this value decreased to Rs 1,809 per sq.ft in 2017, reflecting a decline of 33%. The value then rose again to Rs 2,700 per sq.ft in 2023, before reaching the current value of Rs 2,970 per sq.ft in 2024, a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%, leading to the current guideline value of Rs 2,970 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 466%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which is equal to the guideline value of Rajarajeswari Nagar.

• Rajendran Lane: Rs 2,970 per sq.ft (2024)
• Rajendra Prasad Main Road: Rs 3,850 per sq.ft (2024)
• Rajendra Prasad Road (Part): Rs 3,850 per sq.ft (2024)
• Rajaji Street: Rs 2,970 per sq.ft (2024)
• Rajaji Cross Street: Rs 2,970 per sq.ft (2024)
• Rajabather Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarajeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajarajeswari Nagar?

The Sub Registrar Office that covers Rajarajeswari Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is crucial when registering property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation. This ensures that both the buyer and seller are aware of the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Rajarajeswari Nagar?

The current guideline value of Rajarajeswari Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, with various fluctuations in between.

What is the land classification of Rajarajeswari Nagar?

Rajarajeswari Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Rajarajeswari Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 at 7%.