Guideline Value for Rajeshwari Nagar

Rajeshwari Nagar guideline value

The current guideline value of Rajeshwari Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village, under the Gooduvancheri SRO, and is classified as Commercial Special Type - I.

How the guideline value of Rajeshwari Nagar has changed

Over the years, the guideline value of Rajeshwari Nagar has seen several revisions. The 2007 revision set the value at Rs 245 per sq.ft, which significantly increased to Rs 1,200 per sq.ft in the 2012 revision. However, this value then decreased by 33% to Rs 804 per sq.ft in the 2017 revision. Following this, the guideline value remained stable at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

The overall change from the 2007 revision to the 2024 revision is an increase of 390%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,200 per sq.ft, making Rajeshwari Nagar's current guideline value equal to this median.

• Ram Nagar: Rs 1,200 per sq.ft (2024)
• Priya Nagar: Rs 1,200 per sq.ft (2024)
• Sadasiva Nagar: Rs 1,200 per sq.ft (2024)
• Sadasiva Nagar Extn-I,II: Rs 1,200 per sq.ft (2024)
• Sai Avenue: Rs 1,201 per sq.ft (2024)
• Sakthi Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeshwari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajeshwari Nagar?

The Sub Registrar Office covering Rajeshwari Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standard value set by the government.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with legal requirements. This value helps in assessing the transaction's legitimacy and ensuring that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Rajeshwari Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 390% since then.

What is the land classification of Rajeshwari Nagar?

Rajeshwari Nagar is classified as Commercial Special Type - I, which affects its guideline value and usage.

What are the stamp duty and registration fees for property in Rajeshwari Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 12,00,000, the total fees would amount to Rs 1,08,000.

Which office handles registrations for Rajeshwari Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Rajeshwari Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.