Guideline Value for Rajeshwari Colony (Near Arcot Road)

Rajeshwari Colony (Near Arcot Road) guideline value

The current guideline value of Rajeshwari Colony (Near Arcot Road) is Rs 4,950 per sq.ft, effective from 1 July 2024. This area is located in Virugambakkam village, under the Virugambakkam SRO with a land classification of Residential Class II Type - II.

How the guideline value of Rajeshwari Colony (Near Arcot Road) has changed

The guideline value for Rajeshwari Colony has seen several revisions over the years. In 2002, the value was Rs 500 per sq.ft, which increased to Rs 554 per sq.ft in 2003. The next significant revision occurred in 2007, raising the value to Rs 1,100 per sq.ft. Following this, the value jumped to Rs 4,500 per sq.ft in 2012, before dropping to Rs 3,015 per sq.ft in 2017. The value then rose sharply to Rs 4,500 per sq.ft in 2023, and most recently, it has been set at Rs 4,950 per sq.ft for 2024.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision reflects a 10% increase. The most significant change occurred between 2007 and 2012, where the value surged by 309%. Overall, from 2002 to 2024, the guideline value has increased by 890%. There are no figures available for the revisions in years not listed.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO carrying a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Rajeshwari Colony's 2024 guideline value is above this median.

• Raji Street: Rs 2,750 per sq.ft (2024)
• RajivGandhi Street: Rs 3,300 per sq.ft (2024)
• Rajalakshmi Avenue: Rs 6,600 per sq.ft (2024)
• Rajaji Colony (Near SBI Colony): Rs 4,400 per sq.ft (2024)
• Ramasamy Road: Rs 8,800 per sq.ft (2024)
• P.V.Rjamannar Salai: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeshwari Colony (Near Arcot Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajeshwari Colony (Near Arcot Road)?

The Sub Registrar Office covering Rajeshwari 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 further assistance.

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

The guideline value plays a crucial role in property transactions in Virugambakkam. It is used to determine the stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajeshwari Colony (Near Arcot Road)?

The current guideline value of Rajeshwari Colony (Near Arcot Road) 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 increased significantly from Rs 500 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 890% over this period.

What is the stamp duty rate for properties in Rajeshwari Colony?

The stamp duty rate for properties in Rajeshwari Colony is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajeshwari Colony?

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

What are the guideline values of other streets in Virugambakkam?

Other streets in Virugambakkam have varying guideline values, ranging from Rs 2,750 to Rs 13,200 per sq.ft, with the median value being Rs 4,400 per sq.ft.