Guideline Value for Rajasekara Nagar (Ward-01)

Rajasekara Nagar (Ward-01) guideline value

The current guideline value for Rajasekara Nagar (Ward-01) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Rajasekara Nagar (Ward-01) has changed

The guideline value for Rajasekara Nagar has remained at Rs 1,200 per sq.ft since the 2012 revision until the 2023 revision, which also recorded Rs 1,200 per sq.ft. In the 2024 revision, the value increased to Rs 1,300 per sq.ft, reflecting an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. There are no figures available for the years 2002, 2003, 2007, and 2017 for this street.

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. Rajasekara Nagar's 2024 value is below this median.

• Rajasekar Nagar: 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 Rajasekara Nagar (Ward-01)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. 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 details.

Which Sub Registrar Office covers Rajasekara Nagar (Ward-01)?

The Sub Registrar Office that covers Rajasekara Nagar (Ward-01) 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 during the registration of property transactions in Madhavaram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can affect the total cost involved in the transaction.

Frequently asked questions

What is the current guideline value for Rajasekara Nagar (Ward-01)?

The current guideline value for Rajasekara Nagar (Ward-01) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rajasekara Nagar has seen an increase from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What is the classification of land in Rajasekara Nagar?

Rajasekara Nagar is classified as Residential Class III Type - I. This classification indicates the type of development permissible in the area.

What are the stamp duty and registration fees for property in Rajasekara Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. The duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Rajasekara Nagar?

The Madhavaram Sub Registrar Office handles registrations for Rajasekara Nagar (Ward-01). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.