Guideline Value for Rajeswari Nagar Thairialakshmi Street

Rajeswari Nagar Thairialakshmi Street guideline value

The current guideline value of Rajeswari Nagar Thairialakshmi Street is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - IV.

How the guideline value of Rajeswari Nagar Thairialakshmi Street has changed

Over the years, the guideline value of Rajeswari Nagar Thairialakshmi Street has seen significant changes. The 2007 revision set the value at Rs 600 per sq.ft, which rose dramatically to Rs 3,300 per sq.ft in 2012, marking an increase of 450%. However, the value then decreased by 33% to Rs 2,211 per sq.ft in 2017. The 2023 revision brought the value up to Rs 3,300 per sq.ft, and the most recent 2024 revision has further increased it to Rs 3,500 per sq.ft, reflecting a 6% rise from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 483%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Rajeswari Nagar Thairialakshmi Street's 2024 figure above this median.

• Rajeswari Nagar Santhanalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Varalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Vidhyalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Vijayalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Main Road: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Extention: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeswari Nagar Thairialakshmi Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 35,00,000. The stamp duty at 7% would amount to Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, totaling Rs 3,15,000. 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 Rajeswari Nagar Thairialakshmi Street?

The Sub Registrar Office that covers Rajeswari Nagar Thairialakshmi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buyers and sellers agree on a sale price, the guideline value is compared to this price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Rajeswari Nagar Thairialakshmi Street?

The current guideline value of Rajeswari Nagar Thairialakshmi Street is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the most recent increase being from Rs 3,300 per sq.ft in 2023 to Rs 3,500 per sq.ft in 2024, a 6% rise. Overall, the value has increased by 483% from Rs 600 per sq.ft in 2007 to the current rate.

What is the land classification for Rajeswari Nagar Thairialakshmi Street?

Rajeswari Nagar Thairialakshmi Street is classified as Residential Special Type - IV, indicating its designated use for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Rajeswari Nagar Thairialakshmi Street located?

The Sub Registrar Office for Rajeswari Nagar Thairialakshmi Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.