Guideline Value for Rajeshwari Nagar 5th Street

Rajeshwari Nagar 5th Street guideline value

The current guideline value of Rajeshwari Nagar 5th 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 5th Street has changed

The guideline value for Rajeshwari Nagar 5th Street has undergone several revisions over the years. In 2002, the value was Rs 178 per sq.ft, which increased to Rs 200 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,200 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017 before increasing again to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +12%. The jump from 2003 to 2007 was substantial at +500%. The value then decreased by -33% from 2012 to 2017. The increase from 2017 to 2023 was +49%, and the latest change from 2023 to 2024 is +12%. Overall, from 2002 to 2024, the guideline value has increased by +1473%.

Guideline values in Ullagaram

In Ullagaram, there are a total of 298 streets under the Alandur SRO, with guideline values 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 equal to the 2024 figure for Rajeshwari Nagar 5th Street.

• Rajeshwari Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Rajeshwari Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Rajeshwari Nagar Main: Rs 3,900 per sq.ft (2024)
• Rajeshwari Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Rajeshwari Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Rajeshwari nagar 2nd Main Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeshwari Nagar 5th 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, making the total cost for these fees Rs 2,52,000. 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 more details.

Which Sub Registrar Office covers Rajeshwari Nagar 5th Street?

The Sub Registrar Office that covers Rajeshwari Nagar 5th 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 during the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajeshwari Nagar 5th Street?

The current guideline value of Rajeshwari Nagar 5th Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 178 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, marking an overall increase of +1473% over the years.

What is the land classification of Rajeshwari Nagar 5th Street?

Rajeshwari Nagar 5th Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Rajeshwari Nagar 5th Street?

The Sub Registrar Office for Rajeshwari Nagar 5th Street 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 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.