Guideline Value for Rajarathinapuram

Rajarathinapuram guideline value

The current guideline value of Rajarathinapuram is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Vallam village and falls under the Chengleput Joint I SRO, classified as Residential Special Type - I.

How the guideline value of Rajarathinapuram has changed

The guideline value for Rajarathinapuram has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 1,000 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 1,000 per sq.ft. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The most significant change occurred between the 2017 and 2023 revisions, where the value increased by 49% back to Rs 1,000 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 1,000 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft, with the median value being Rs 1,000 per sq.ft. Rajarathinapuram's 2024 figure aligns with this median.

• Rajeswari Avenue: Rs 1,000 per sq.ft (2024)
• Preethi Nagar: Rs 850 per sq.ft (2024)
• Sabari Nagar: Rs 850 per sq.ft (2024)
• Pandian Nagar: Rs 1,000 per sq.ft (2024)
• School Street: Rs 750 per sq.ft (2024)
• Selvam Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarathinapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty, calculated at 7%, would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total cost for these fees to Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajarathinapuram?

The Rajarathinapuram area is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Vallam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that all transactions are recorded at a fair value as per government regulations.

When buying or selling property, the guideline value helps in establishing the official value of the property, which is necessary for legal documentation and taxation purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Rajarathinapuram?

The current guideline value of Rajarathinapuram is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the 2012 revision at Rs 1,000 per sq.ft, dropping to Rs 670 per sq.ft in 2017, then increasing back to Rs 1,000 per sq.ft by 2023 and remaining the same in 2024.

What is the classification of land in Rajarathinapuram?

The land in Rajarathinapuram is classified as Residential Special Type - I.

Where can I find the Chengleput Joint I SRO?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated in Rajarathinapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.