Guideline Value for Rajeshwari 3rd Street

Rajeshwari 3rd Street guideline value

The current guideline value of Rajeshwari 3rd Street, located in Madipakkam-1 village under the Velacheri SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Rajeshwari 3rd Street has changed

The guideline value for Rajeshwari 3rd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a significant increase from Rs 1,340 per sq.ft during the 2017 revision. This change represents a rise of 64% from the previous figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only figures we can reference are from the 2017 and 2024 revisions.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Rajeshwari 3rd Street's 2024 figure below that median.

• Rajeshwari 2nd 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty is calculated at 7%, amounting to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total fees would be 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.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Rajeshwari 3rd Street?

The Rajeshwari 3rd Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more 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 that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Rajeshwari 3rd Street?

The current guideline value for Rajeshwari 3rd 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, representing a 64% increase.

Are there any years without a guideline value for Rajeshwari 3rd Street?

Yes, the register has no figures for Rajeshwari 3rd Street for the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current value of Rs 2,200 per sq.ft for Rajeshwari 3rd Street.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.