Guideline Value for Rajarajeswari Nagar

Rajarajeswari Nagar guideline value

The current guideline value for Rajarajeswari Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Rajarajeswari Nagar has changed

Since the 2012 revision, the guideline value for Rajarajeswari Nagar has seen several changes. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then further rose to the current Rs 1,650 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the guideline value rose by 10%. Overall, comparing the 2012 and 2024 figures, there has been a 10% increase in the guideline value.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value across these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value for Rajarajeswari Nagar.

• RajaRajeswari St: Rs 1,650 per sq.ft (2024)
• Rajarajan St: Rs 1,100 per sq.ft (2024)
• Raja Street: Rs 1,100 per sq.ft (2024)
• Rajendra Cholan Street: Rs 2,750 per sq.ft (2024)
• Rajendran Avenue: Rs 2,750 per sq.ft (2024)
• Rajendran Avenue Ext-1: Rs 2,750 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. 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 fees, 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and legally compliant.

When buying or selling property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajarajeswari Nagar?

The current guideline value of Rajarajeswari Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Rajarajeswari Nagar?

Rajarajeswari Nagar is classified as Residential Class I Type - III, 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 the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,48,500.