Guideline Value for Rajeshwari 2nd Street

Rajeshwari 2nd Street guideline value

The current guideline value for Rajeshwari 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Rajeshwari 2nd Street has changed

The guideline value for Rajeshwari 2nd Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which was then increased to Rs 2,200 per sq.ft in the 2024 revision, reflecting a change of +64%. The register has no figure for the years 2023, 2012, 2007, 2003, and 2002.

From the 2017 revision to the 2024 revision, the significant increase highlights the changes in property values in the area. The 2017 figure of Rs 1,340 per sq.ft was the last recorded value before the current 2024 revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO carrying a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Rajeshwari 2nd Street's 2024 value is below this median.

• Rajeshwari 3rd Street: Rs 2,200 per sq.ft (2024)
• Rajeshwari 4th Street: Rs 2,200 per sq.ft (2024)
• Rajeshwari 5th Street: Rs 2,200 per sq.ft (2024)
• Rajeshwari Avenue: Rs 2,200 per sq.ft (2024)
• Rajeshwari Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Rajeshwari Nagar Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeshwari 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, together totaling Rs 1,98,000. 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 Rajeshwari 2nd Street?

The Sub Registrar Office that covers Rajeshwari 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for additional information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Rajeshwari 2nd Street?

The current guideline value of Rajeshwari 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, marking a change of +64%.

What is the land classification of Rajeshwari 2nd Street?

Rajeshwari 2nd Street falls under the Residential Class II Type - I land classification.

What are the guideline values of other streets in Madipakkam-1?

Other streets in Madipakkam-1, such as Rajeshwari 3rd Street, Rajeshwari 4th Street, Rajeshwari 5th Street, Rajeshwari Avenue, Rajeshwari Nagar 1st Street, and Rajeshwari Nagar Extension, all share the same guideline value of Rs 2,200 per sq.ft as of 2024.

Where can I find the Sub Registrar Office for Rajeshwari 2nd Street?

The Velacheri Sub Registrar Office covers Rajeshwari 2nd Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.