Guideline Value for Rajeswari Nagar

Rajeswari Nagar guideline value

The current guideline value of Rajeswari Nagar, located in Padappai village under the Padappai SRO, is Rs 1,320 per sq.ft. This value is effective from the 2024 revision, which was implemented on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Rajeswari Nagar has changed

The guideline value for Rajeswari Nagar has seen significant changes over the years. The earliest recorded value was Rs 25 per sq.ft in 2003, which increased to Rs 50 per sq.ft in 2007, marking a substantial rise of 100%. In 2012, the value was revised to Rs 1,200 per sq.ft, reflecting an increase of 2300%. However, this was followed by a decrease to Rs 804 per sq.ft in 2017, which represented a decline of 33%. The value then rose to Rs 1,200 per sq.ft in 2023, and finally reached Rs 1,320 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 5180%. It is noteworthy that there is no figure available for the year 2002 in the register for this street.

Guideline values in Padappai

In Padappai village, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value for Rajeswari Nagar is above this median, indicating its relatively higher valuation compared to other streets.

• Radiance Smartville: Rs 2,470 per sq.ft (2024)
• Radha Nagar: Rs 1,320 per sq.ft (2024)
• Ranganatha Nagar: Rs 830 per sq.ft (2024)
• Pushpagiri Salai: Rs 830 per sq.ft (2024)
• Primier Nagar: Rs 990 per sq.ft (2024)
• R.M. Nagar: Rs 900 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajeswari Nagar?

The Sub Registrar Office that covers Rajeswari Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padappai. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded accurately and fairly in the official register.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajeswari Nagar?

The current guideline value of Rajeswari Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 25 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 5180% over the years.

What is the land classification for Rajeswari Nagar?

Rajeswari Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Rajeswari Nagar?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fee would amount to Rs 1,18,800.

Where is the Sub Registrar Office for Rajeswari Nagar located?

The Sub Registrar Office for Rajeswari Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.