Guideline Value for Rajasekar Nagar

Rajasekar Nagar guideline value

The current guideline value of Rajasekar Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Rajasekar Nagar has changed

The guideline value for Rajasekar Nagar has seen a change from Rs 1,200 per sq.ft in the 2012 revision to Rs 1,300 per sq.ft in the 2024 revision, marking an increase of 8%. The register does not have figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

In summary, the only revisions that have figures for Rajasekar Nagar are from 2012 and 2024, with the value increasing from Rs 1,200 to Rs 1,300. The absence of figures for the other years indicates that there were no recorded changes during those periods.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Rajasekar Nagar is below this median.

• Rajasekara Nagar (Ward-01): Rs 1,300 per sq.ft (2024)
• Rajathi Avenue: Rs 1,300 per sq.ft (2024)
• Rajeev Gandhi st (Ward No.23): Rs 1,300 per sq.ft (2024)
• Rajan Nagar 2nd Street (Ward No.29): Rs 1,600 per sq.ft (2024)
• Rajan Nagar 1st Street (Ward No.29): Rs 1,600 per sq.ft (2024)
• Raja Nagar (Ward-01): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajasekar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajasekar Nagar?

The Sub Registrar Office that covers Rajasekar Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that both parties are aware of the financial implications involved in the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Rajasekar Nagar?

The current guideline value of Rajasekar Nagar is Rs 1,300 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, an increase of 8%. There are no registered figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for Rajasekar Nagar?

Rajasekar Nagar falls under the Residential Class III Type - I land classification, which indicates its use for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 1,17,000.

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

The Madhavaram Sub Registrar Office, which covers Rajasekar Nagar, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about it online.