Guideline Value for Rajeswari Nagar

Rajeswari Nagar guideline value

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

How the guideline value of Rajeswari Nagar has changed

The guideline value for Rajeswari Nagar has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 850 per sq.ft. This value increased significantly to Rs 3,300 per sq.ft in 2012, marking an increase of 288%. However, it saw a decrease to Rs 2,211 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 3,300 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 3,500 per sq.ft, which is a 6% increase 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 312%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry 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's current value above this median.

• Rajeswari Nagar Dhanalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Dhanyalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Extention: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Main Road: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Santhanalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Thairialakshmi Street: Rs 3,500 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 3,500 per sq.ft, the total 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 cost for these fees 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.

For more information on calculating fees, 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 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 details.

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

The guideline value is a critical factor during the registration of property transactions 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 buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value as it impacts the overall costs associated with the transaction.

Frequently asked questions

What is the current guideline value of Rajeswari Nagar?

The current guideline value of Rajeswari Nagar 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 850 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2024, reflecting an overall increase of 312% over the years.

What is the land classification of Rajeswari Nagar?

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

Where is the Selaiyur Sub Registrar Office located?

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

How is stamp duty calculated for properties in Rajeswari Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 35,00,000, the stamp duty would be Rs 2,45,000.