Guideline Value for Rajasekaran Nagar 2nd street

Rajasekaran Nagar 2nd street guideline value

The current guideline value of Rajasekaran Nagar 2nd street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Rajasekaran Nagar 2nd street has changed

The guideline value for Rajasekaran Nagar 2nd street has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% increase. However, it decreased to Rs 804 per sq.ft in 2017, a decline of 33%. The value then rose significantly to Rs 1,200 per sq.ft in 2023, and further increased to Rs 1,300 per sq.ft in 2024, reflecting an 8% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2007 and 2024 figures, there has been a total increase of 117%. It is important to note that the register has no figures for this street for the years 2002 and 2003.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, placing Rajasekaran Nagar 2nd street's 2024 figure below that median.

• Rajasekaran Nagar 1st 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 2nd street

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, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Rajasekaran Nagar 2nd street?

The Sub Registrar Office that covers Rajasekaran Nagar 2nd 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 an essential factor in the registration process of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the valuation of the property. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Rajasekaran Nagar 2nd street?

The current guideline value of Rajasekaran Nagar 2nd 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, representing an overall increase of 117% over the years.

What are the stamp duty and registration fees for properties in Rajasekaran Nagar 2nd street?

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.

Which Sub Registrar Office covers this area?

The Royapuram Sub Registrar Office covers Rajasekaran Nagar 2nd street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Rajasekaran Nagar 2nd street?

Rajasekaran Nagar 2nd street falls under the Residential Class II Type - I land classification.