Guideline Value for Rajendra Nagar

Rajendra Nagar guideline value

The current guideline value of Rajendra Nagar, located in Selaiyur village under the Selaiyur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Rajendra Nagar has changed

Over the years, the guideline value of Rajendra Nagar has seen several revisions. In 2007, the guideline value was Rs 450 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017. The 2023 revision set the value at Rs 1,500 per sq.ft, and the latest revision in 2024 raised it to Rs 1,600 per sq.ft.

The changes between revisions show a 233% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. From 2017 to 2023, there was a notable increase of 49%, and the latest revision from 2023 to 2024 reflects a 7% rise. Overall, from 2007 to 2024, the guideline value has increased by 256%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Rajendra Nagar's 2024 figure is below this median.

• Raja Shaib Rao Street: Rs 1,600 per sq.ft (2024)
• Raja Rao Street: Rs 1,600 per sq.ft (2024)
• Raja Rao Sahagib Street: Rs 1,600 per sq.ft (2024)
• Rajeswari Nagar: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Dhanalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Dhanyalakshmi Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, the total fees would amount to Rs 1,44,000. 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 accurate calculations.

Which Sub Registrar Office covers Rajendra Nagar?

Rajendra Nagar falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during property transactions in Selaiyur. It determines the minimum value at which properties can be registered and affects the stamp duty and registration fees payable. Buyers and sellers must consider this value to ensure compliance with local regulations.

When purchasing property, the guideline value serves as a reference point for valuation and helps in calculating the applicable fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajendra Nagar?

The current guideline value of Rajendra Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 256% over this period.

What is the land classification of Rajendra Nagar?

Rajendra Nagar is classified as Residential Class II Type - II, indicating its designated use for residential purposes.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.