Guideline Value for Rajeswari Colony

Rajeswari Colony guideline value

The current guideline value of Rajeswari Colony, located in Parangimalai village, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Rajeswari Colony has changed

The guideline value of Rajeswari Colony has seen several revisions over the years. In 2002, the value was Rs 236 per sq.ft, which increased to Rs 320 per sq.ft in 2003. Following this, the value rose significantly to Rs 750 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 climbing to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft.

Changes between these revisions include a 36% increase from 2002 to 2003, a 134% rise from 2003 to 2007, a 233% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% rise from 2017 to 2023, and a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,065%.

Guideline values in Parangimalai

In Parangimalai village, there are 233 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Rajeswari Colony's 2024 figure below that median.

• Raja Street Main: Rs 3,850 per sq.ft (2024)
• Raja Street 9th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 8th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 7th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 6th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 5th Lane: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeswari Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, these fees would total Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajeswari Colony?

The Sub Registrar Office that covers Rajeswari Colony is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Parangimalai. 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 to the sale price, and the duty is charged on the higher of the two. This ensures that the registration process is aligned with the officially recognized values in the area.

Frequently asked questions

What is the current guideline value of Rajeswari Colony?

The current guideline value of Rajeswari Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 236 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1,065% over the years.

What is the classification of land in Rajeswari Colony?

Rajeswari Colony is classified as Residential Class III Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for properties in Rajeswari Colony?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office is responsible for Rajeswari Colony?

The Chennai South Joint II Sub Registrar Office is responsible for Rajeswari Colony, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.