Guideline Value for Rajeswari Vedachalam Street

Rajeswari Vedachalam Street guideline value

The current guideline value of Rajeswari Vedachalam Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Town village under the Chengleput Joint I SRO, and it is classified as Commercial Special Type - I.

How the guideline value of Rajeswari Vedachalam Street has changed

The guideline value has seen several revisions over the years. In 2007, the value was Rs 501 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017, marking a decline of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,850 per sq.ft in 2024, reflecting a 10% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Rajeswari Vedachalam Street. Overall, from 2007 to 2024, the guideline value has increased by 668%.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,025 per sq.ft, placing Rajeswari Vedachalam Street's 2024 figure above this median.

• Rajaji Street: Rs 5,500 per sq.ft (2024)
• Ramapalayam: Rs 1,650 per sq.ft (2024)
• Ragavanar Street: Rs 3,025 per sq.ft (2024)
• Pudukarai ( Nadu Street): Rs 2,200 per sq.ft (2024)
• Pudu Eri: Rs 2,420 per sq.ft (2024)
• Pillaiyar Kulam Street: Rs 4,125 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeswari Vedachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, leading to a total of Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajeswari Vedachalam Street?

The Sub Registrar Office that covers Rajeswari Vedachalam Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Chengalpattu Town

The guideline value is a crucial factor during property transactions in Chengalpattu Town. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and standardization in property transactions across the region.

Frequently asked questions

What is the current guideline value of Rajeswari Vedachalam Street?

The current guideline value of Rajeswari Vedachalam Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 501 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 668% over this period.

What is the land classification of Rajeswari Vedachalam Street?

Rajeswari Vedachalam Street is classified as Commercial Special Type - I, which indicates its intended use for commercial activities.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where can I find the Sub Registrar Office for Rajeswari Vedachalam Street?

The Sub Registrar Office for Rajeswari Vedachalam Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.