Guideline Value for Rajeshwari Nagar 1st Street

Rajeshwari Nagar 1st Street guideline value

The current guideline value of Rajeshwari Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Rajeshwari Nagar 1st Street has changed

The guideline value for Rajeshwari Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 178 per sq.ft. This increased to Rs 200 per sq.ft in 2003, marking a 12% rise. The value then saw a significant jump to Rs 1,200 per sq.ft in 2007, which is an increase of 500%. In 2012, the value adjusted to Rs 2,500 per sq.ft, reflecting a decrease of 33%. The 2017 revision set the value at Rs 1,675 per sq.ft, which was a 49% increase from the previous revision. The most recent revisions saw the value rise to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,800 per sq.ft in 2024, representing a 12% increase.

There are no figures available for the revisions in years not explicitly mentioned. Overall, from 2002 to 2024, the guideline value has increased by 1,473%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,800 per sq.ft, which is the same as the current value for Rajeshwari Nagar 1st Street.

• Rajeshwari Nagar 1st Main Road: Rs 2,800 per sq.ft (2024)
• Rajeshwari Nagar 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Rajeshwari Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Rajeshwari Nagar 2nd Main Road: Rs 2,800 per sq.ft (2024)
• Rajeshwari Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Rajeshwari Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeshwari Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajeshwari Nagar 1st Street?

The Sub Registrar Office that covers Rajeshwari Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the property registration process in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property transaction occurs, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Rajeshwari Nagar 1st Street?

The current guideline value of Rajeshwari Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 178 per sq.ft to Rs 2,800 per sq.ft in 2024, which is an overall increase of 1,473%.

What is the land classification for Rajeshwari Nagar 1st Street?

Rajeshwari Nagar 1st Street is classified as Residential Class II Type - I.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Rajeshwari Nagar 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.