Guideline Value for Rajasekaran Nagar 1st street

Rajasekaran Nagar 1st street guideline value

The current guideline value of Rajasekaran Nagar 1st street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Rajasekaran Nagar 1st street has changed

The guideline value for Rajasekaran Nagar 1st street has undergone several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, a 100% rise. However, the value dropped by 33% to Rs 804 per sq.ft in the 2017 revision. The subsequent revision in 2023 raised the value to Rs 1,200 per sq.ft, and the latest revision in 2024 has further increased it to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Rajasekaran Nagar 1st street is below this median.

• Rajasekaran Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Rajasekaran Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Rajasekaran Nagar 4th street: Rs 1,300 per sq.ft (2024)
• Rajasekaran Nagar 5th street: Rs 1,300 per sq.ft (2024)
• Rajasekaran Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Rajasekaran Nagar street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajasekaran Nagar 1st street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value is Rs 13,00,000. The stamp duty at 7% amounts to Rs 91,000, and the registration fee at 2% is Rs 26,000, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajasekaran Nagar 1st street?

The Sub Registrar Office covering Rajasekaran Nagar 1st street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the higher of the guideline value or the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajasekaran Nagar 1st street?

The current guideline value of Rajasekaran Nagar 1st street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an increase of 117% overall.

What are the stamp duty rates for properties in Rajasekaran Nagar 1st street?

The stamp duty for properties in Rajasekaran Nagar 1st street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajasekaran Nagar 1st street?

The Sub Registrar Office for Rajasekaran Nagar 1st street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification of Rajasekaran Nagar 1st street?

Rajasekaran Nagar 1st street is classified as Residential Class II Type - I.