Guideline Value for Rajendra Colony

Rajendra Colony guideline value

The current guideline value of Rajendra Colony, located in Saligramam village under the Virugambakkam SRO, is Rs 4,950 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Rajendra Colony has changed

Since the 2002 revision, the guideline value for Rajendra Colony has seen significant changes. In 2002, the value was Rs 959 per sq.ft, which increased to Rs 1,048 per sq.ft in 2003, marking a 9% rise. The value further increased to Rs 1,800 per sq.ft in 2007, reflecting a 72% jump. The 2012 revision saw the value rise to Rs 4,500 per sq.ft, a substantial increase of 150% from the previous revision. However, in 2017, the value dropped to Rs 3,015 per sq.ft, a decrease of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, and finally, it reached Rs 4,950 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 416%. There are no figures for the revisions in years other than those listed.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for the area is Rs 4,400 per sq.ft, placing Rajendra Colony's 2024 figure above this median.

• Rajeswari Street: Rs 4,400 per sq.ft (2024)
• Rajangam Mathya Veedhi: Rs 2,750 per sq.ft (2024)
• Rajammal Street: Rs 3,850 per sq.ft (2024)
• Rajalakshmi Avenue: Rs 4,950 per sq.ft (2024)
• Ramakrishna Street: Rs 3,850 per sq.ft (2024)
• Ramalakshmanan Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendra Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000. Therefore, the total cost for stamp duty and registration fees would be Rs 4,45,500. It is important to note that the 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 Rajendra Colony?

The Sub Registrar Office that covers Rajendra Colony is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for additional information.

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

The guideline value is a crucial factor during the registration of property transactions in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers and sellers to be aware of the guideline value to avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of Rajendra Colony?

The current guideline value of Rajendra Colony is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 959 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 416% over the years.

What is the land classification of Rajendra Colony?

Rajendra Colony falls under the Residential Class I Type - I land classification.

What are the stamp duty and registration fees for property in Rajendra Colony?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500, and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Where is the Sub Registrar Office for Rajendra Colony located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.