Guideline Value for Rajeswari Nagar

Rajeswari Nagar guideline value

The current guideline value of Rajeswari Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - II land classification.

How the guideline value of Rajeswari Nagar has changed

In the 2017 revision, the guideline value was Rs 1,005 per sq.ft. This figure increased to Rs 1,500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Varadarajapuram

Varadarajapuram has a total of 250 streets covered under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Rajeswari Nagar.

• Rajiv Nagar: Rs 990 per sq.ft (2024)
• Rajiv Nagar Extension: Rs 1,650 per sq.ft (2024)
• Rajiv Nagar Extn I, II and III: Rs 1,650 per sq.ft (2024)
• Raja Nagar @ Gajalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Raja Nagar: Rs 1,320 per sq.ft (2024)
• Raghavendra Nagar: Rs 990 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 would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our 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 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 Varadarajapuram

The guideline value is an essential factor in property transactions in Varadarajapuram. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction.

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 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

What is the land classification of Rajeswari Nagar?

Rajeswari Nagar is classified as Residential Special Type - II, which indicates the intended use of the land for residential purposes.

What are the stamp duty rates in Rajeswari Nagar?

The stamp duty rate in Rajeswari Nagar is 7% of the guideline value, while the registration fee is 2% of the guideline value. These charges are applicable to the higher of the guideline value or the sale price.

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

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