Guideline Value for Rajeswari Nagar

Rajeswari Nagar guideline value

The current guideline value of Rajeswari Nagar, located in Nenmeli village under the Chengleput Joint I SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - I land classification.

How the guideline value of Rajeswari Nagar has changed

The guideline value for Rajeswari Nagar has seen several revisions over the years. In 2007, the value was set at Rs 140 per sq.ft, which increased significantly to Rs 550 per sq.ft in 2012. However, this figure remained unchanged until the next revision in 2017, when it was adjusted to Rs 368 per sq.ft, marking a decrease of 33% from the previous value. The value then rose by 49% in 2023 to Rs 550 per sq.ft, and it has remained the same through the 2024 revision.

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 293%.

Guideline values in Nenmeli

In Nenmeli village, there are 53 streets under the Chengleput Joint I SRO that have a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 612 per sq.ft, placing Rajeswari Nagar's value below this median.

• Raj Garden: Rs 500 per sq.ft (2024)
• Ram Ravi Nagar: Rs 800 per sq.ft (2024)
• Reputes Prosperity Avenue: Rs 600 per sq.ft (2024)
• P.T.S.Nagar: Rs 500 per sq.ft (2024)
• Sai City: Rs 800 per sq.ft (2024)
• Sailakshmi Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total costs to Rs 49,500. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajeswari Nagar?

The Sub Registrar Office that covers Rajeswari Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Nenmeli

The guideline value plays a crucial role during the registration of property transactions in Nenmeli. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Rajeswari Nagar?

The current guideline value of Rajeswari Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 140 per sq.ft in 2007 to Rs 550 per sq.ft in 2012, then decreased to Rs 368 per sq.ft in 2017, and returned to Rs 550 per sq.ft in 2023 and 2024.

What are the guideline values of other streets in Nenmeli?

Other streets in Nenmeli have varying guideline values, with rates ranging from Rs 400 to Rs 2,500 per sq.ft. For example, Raj Garden is valued at Rs 500 per sq.ft, while Ram Ravi Nagar is at Rs 800 per sq.ft.

What is the stamp duty for property in Rajeswari Nagar?

The stamp duty for property in Rajeswari Nagar is 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 38,500.

Where is the Sub Registrar Office located for Rajeswari Nagar?

The Chengleput Joint I Sub Registrar Office, which covers Rajeswari Nagar, is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.