Guideline Value for Rajeswari Nagar

Rajeswari Nagar guideline value

The current guideline value for Rajeswari Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Kattupakkam village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Rajeswari Nagar has changed

The guideline value for Rajeswari Nagar has undergone several revisions over the years. In the 2007 revision, the value was Rs 160 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. This represented a remarkable increase of 213%. However, the value dropped to Rs 335 per sq.ft in the 2017 revision, marking a decrease of 33%. The subsequent revision in 2023 maintained the value at Rs 500 per sq.ft, and the same value has been retained in the 2024 revision, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 213%.

Guideline values in Kattupakkam

In Kattupakkam, there are 27 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 1,500 per sq.ft. The median value for these streets is Rs 500 per sq.ft, which is equal to the 2024 figure for Rajeswari Nagar.

• Quality Nagar: Rs 400 per sq.ft (2024)
• Sarvamangala Nagar: Rs 400 per sq.ft (2024)
• Selvi Nagar: Rs 672 per sq.ft (2024)
• Selvi Nagar Phase - II: Rs 672 per sq.ft (2024)
• Selvi Nagar Phase- III: Rs 800 per sq.ft (2024)
• Sivaji Nagar: Rs 400 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajeswari Nagar?

The Sub Registrar Office that covers Rajeswari Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery - 603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kattupakkam. It is used to determine the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during the registration process.

Additionally, the guideline value is an important reference point for both buyers and sellers, as it helps in understanding the official valuation of properties in the area. It is essential to consider the guideline value when negotiating the sale price to ensure that it meets or exceeds the registered value.

Frequently asked questions

What is the current guideline value of Rajeswari Nagar?

The current guideline value of Rajeswari Nagar is Rs 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 160 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft in 2023 and 2024.

What is the median guideline value for streets in Kattupakkam?

The median guideline value for streets in Kattupakkam is Rs 500 per sq.ft, which is the same as the guideline value for Rajeswari Nagar in 2024.

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

The Sub Registrar Office for Rajeswari Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery - 603202.

How is the stamp duty calculated for property in Rajeswari Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 5,00,000 would incur a stamp duty of Rs 35,000.