Guideline Value for Rajeswari Nagar

Rajeswari Nagar guideline value

The current guideline value of Rajeswari Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this locality is Residential Class I Type - III.

How the guideline value of Rajeswari Nagar has changed

Over the years, the guideline value of Rajeswari Nagar has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,500 per sq.ft in 2023, and subsequently rose to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value for Rajeswari Nagar.

• Rajendran Road: Rs 1,100 per sq.ft (2024)
• Rajendran Avenue Ext-1: Rs 2,750 per sq.ft (2024)
• Rajiparish nagar: Rs 2,750 per sq.ft (2024)
• Rajendran Avenue: Rs 2,750 per sq.ft (2024)
• Rajendra Cholan Street: Rs 2,750 per sq.ft (2024)
• Raja Street: Rs 1,100 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making a total of Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value plays a crucial role during the registration of property transactions in Chitlapakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for legalizing property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions as determined by the government. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Rajeswari Nagar?

The current guideline value of Rajeswari Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Rajeswari Nagar?

Rajeswari Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

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

The Sub Registrar Office for Rajeswari Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated in Rajeswari Nagar?

Stamp duty in Rajeswari Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.