Guideline Value for Rajasekaran Nagar 5th street

Rajasekaran Nagar 5th street guideline value

The current guideline value of Rajasekaran Nagar 5th 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 5th street has changed

The guideline value for Rajasekaran Nagar 5th street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it saw a significant decrease to Rs 804 per sq.ft in 2017. The value then increased to Rs 1,200 per sq.ft in 2023, before reaching the current value of Rs 1,300 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, while the 2012 to 2017 period saw a decrease of 33%. The value doubled from Rs 600 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, marking a 100% increase. 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 that carry a 2024 guideline value 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 5th street is below this median.

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

Stamp duty and registration fee for property in Rajasekaran Nagar 5th 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, making the total fees 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 the stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers Rajasekaran Nagar 5th street?

The Sub Registrar Office that covers Rajasekaran Nagar 5th 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 details.

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, which are essential costs involved in property transactions.

When registering a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajasekaran Nagar 5th street?

The current guideline value of Rajasekaran Nagar 5th 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 significantly, starting from Rs 600 per sq.ft in 2007, increasing to Rs 1,200 in 2012, decreasing to Rs 804 in 2017, and then rising to Rs 1,200 in 2023 before reaching Rs 1,300 in 2024.

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

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

Which Sub Registrar Office covers Rajasekaran Nagar 5th street?

The Royapuram Sub Registrar Office covers Rajasekaran Nagar 5th street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Rajasekaran Nagar 5th street?

The land classification for Rajasekaran Nagar 5th street is Residential Class II Type - I, indicating its suitability for residential development.