Guideline Value for Rajendra Nagar Main Road

Rajendra Nagar Main Road guideline value

The current guideline value of Rajendra Nagar Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Kilkattalai village under the Pallavaram SRO, with a land classification of Commercial Class I Type - I.

How the guideline value of Rajendra Nagar Main Road has changed

The guideline value for Rajendra Nagar Main Road has seen several revisions over the years. The oldest recorded revision is from 2003, with a guideline value of Rs 198 per sq.ft. This figure increased significantly to Rs 700 per sq.ft in 2007, marking a 254% rise. The value then surged to Rs 5,000 per sq.ft in 2012, reflecting a remarkable increase of 614%. However, in 2017, the value dropped to Rs 3,350 per sq.ft, which was a decrease of 33%. Following this, the guideline value rose to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in 2024, showing a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 2678%. It is important to note that there is no figure recorded for this street in the 2002 revision.

Guideline values in Kilkattalai

In Kilkattalai, there are 194 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Rajendra Nagar Main Road's 2024 figure above this median.

• Rajendra Nagar Extn: Rs 5,500 per sq.ft (2024)
• Rajendra Nagar: Rs 5,500 per sq.ft (2024)
• Rajamanickam Nagar: Rs 5,500 per sq.ft (2024)
• Ramasamy 1st Street: Rs 2,160 per sq.ft (2024)
• Ramaswamy Street: Rs 2,160 per sq.ft (2024)
• Ragavan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendra Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a combined total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajendra Nagar Main Road?

The Sub Registrar Office that covers Rajendra Nagar Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Kilkattalai, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions comply with legal requirements.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajendra Nagar Main Road?

The current guideline value of Rajendra Nagar Main Road is Rs 5,500 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 198 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 2678% over this period.

Where can I find the registration office for properties in this area?

The registration office for properties in Rajendra Nagar Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

What is the land classification for Rajendra Nagar Main Road?

Rajendra Nagar Main Road is classified as Commercial Class I Type - I, which influences its guideline value and potential uses.