Guideline Value for Rajasekaran Nagar 3rd street

Rajasekaran Nagar 3rd street guideline value

The current guideline value of Rajasekaran Nagar 3rd street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajasekaran Nagar 3rd street has changed

Over the years, the guideline value of Rajasekaran Nagar 3rd street has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, this value decreased to Rs 804 per sq.ft in the 2017 revision. The 2023 revision raised the value to Rs 1,200 per sq.ft, leading to a further increase to Rs 1,300 per sq.ft in the latest 2024 revision.

In terms of percentage changes, the value increased by 100% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The jump from 2023 to 2024 represents an 8% increase. Overall, from 2007 to 2024, the guideline value has risen by 117%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that Rajasekaran Nagar 3rd street's guideline value is below this median.

• Rajasekaran Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Rajasekaran Nagar 4th street: Rs 1,300 per sq.ft (2024)
• Rajasekaran Nagar 1st 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 3rd 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, charged at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, these fees would total Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajasekaran Nagar 3rd street?

The Sub Registrar Office that covers Rajasekaran Nagar 3rd 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 during property registration in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajasekaran Nagar 3rd street?

The current guideline value of Rajasekaran Nagar 3rd 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 several times, starting from Rs 600 per sq.ft in 2007, increasing to Rs 1,200 in 2012, and then fluctuating to Rs 804 in 2017. The value rose to Rs 1,200 in 2023 and is now Rs 1,300 in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. This office handles registrations for properties in the area.

What is the land classification for Rajasekaran Nagar 3rd street?

The land classification for Rajasekaran Nagar 3rd street is Residential Class II Type - I, indicating its suitability for residential development.