Guideline Value for Rajeshwari Nagar

Rajeshwari Nagar guideline value

The current guideline value of Rajeshwari Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Rajeshwari Nagar has changed

The guideline value for Rajeshwari Nagar has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 173 per sq.ft. It then saw a significant increase to Rs 1,500 per sq.ft in the 2007 revision, marking a rise of 767%. In 2012, the value was revised to Rs 3,500 per sq.ft, reflecting an increase of 133%. However, this value decreased by 33% to Rs 2,345 per sq.ft in the 2017 revision. The 2023 revision brought the value back up to Rs 3,500 per sq.ft, and the latest revision in 2024 set it at Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 2,125%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that the guideline value of Rajeshwari Nagar is below this median.

• Raj Bhavan Colony: Rs 13,200 per sq.ft (2024)
• Raja Street in Seethapathy Nagar: Rs 4,950 per sq.ft (2024)
• Raja Street: Rs 4,950 per sq.ft (2024)
• Raja Sethupathypuram 2nd Cross street: Rs 3,850 per sq.ft (2024)
• Raja Sethupathypuram 1st Cross street: Rs 3,850 per sq.ft (2024)
• Rajiv Gandhi Nagar Amman Koil Street: Rs 3,850 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajeshwari Nagar?

Rajeshwari Nagar falls under 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 Velachery

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, 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 in the area.

Frequently asked questions

What is the current guideline value of Rajeshwari Nagar?

The current guideline value of Rajeshwari Nagar is Rs 3,850 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 173 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 2,125% across the years.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office is responsible for Rajeshwari Nagar?

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

Where can I find more information about guideline values in Velachery?

More information about guideline values in Velachery can be found in the registration department's guideline value register (TNReginet), which lists values for various streets in the area.