Guideline Value for Rajeswari Nagar Vijayalakshmi Street

Rajeswari Nagar Vijayalakshmi Street guideline value

The current guideline value of Rajeswari Nagar Vijayalakshmi 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 Vijayalakshmi Street has changed

The guideline value for Rajeswari Nagar Vijayalakshmi Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,300 per sq.ft in 2012. However, it dropped to Rs 2,211 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,300 per sq.ft in 2023, followed by a further rise to Rs 3,500 per sq.ft in 2024, marking a 6% increase from the previous year.

There are no figures available for the revisions in 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 a 2024 guideline value 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 Vijayalakshmi Street above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 3,500 per sq.ft, the guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total to Rs 3,15,000. 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 Rajeswari Nagar Vijayalakshmi Street?

The Sub Registrar Office covering Rajeswari Nagar Vijayalakshmi 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 more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Selaiyur. 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 government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Rajeswari Nagar Vijayalakshmi 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 from Rs 600 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2024, marking an overall increase of 483% over this period.

What is the median guideline value in Selaiyur?

The median guideline value for the 478 streets in Selaiyur is Rs 2,200 per sq.ft, with Rajeswari Nagar Vijayalakshmi Street being above this median.

What are the stamp duty rates in Selaiyur?

The stamp duty in Selaiyur is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Rajeswari Nagar Vijayalakshmi Street?

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