Guideline Value for Rajeswari nagar

Rajeswari nagar guideline value

The current guideline value of Rajeswari nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Thirumazhisai village, under the Poonamallee SRO, and is classified as Residential Special Type - I.

How the guideline value of Rajeswari nagar has changed

The guideline value for Rajeswari nagar has seen several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it then decreased to Rs 670 per sq.ft in 2017. The value rose again to Rs 1,000 per sq.ft in 2023, and as of the latest revision in 2024, it stands at Rs 1,100 per sq.ft. The changes between these revisions include a 567% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value of Rajeswari nagar is below this median.

• Ramachandra nagar: Rs 1,100 per sq.ft (2024)
• Ranjith Maharaj Enclave: Rs 1,550 per sq.ft (2024)
• R.M.R.Enclave: Rs 1,320 per sq.ft (2024)
• Sai Avenue: Rs 1,550 per sq.ft (2024)
• Sai Golden Paradise Extension: Rs 1,440 per sq.ft (2024)
• Sai's Golden Paradise Extn: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeswari nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Rajeswari nagar?

The Sub Registrar Office that covers Rajeswari nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirumazhisai. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is used to determine the minimum value on which the stamp duty is levied. This ensures that the government receives the appropriate revenue from property transactions, regardless of the actual sale price.

Frequently asked questions

What is the current guideline value of Rajeswari nagar?

The current guideline value of Rajeswari nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between. Notably, it increased by 567% from 2007 to 2012 and by 49% from 2017 to 2023.

What is the stamp duty rate for property in Rajeswari nagar?

The stamp duty rate for property transactions in Rajeswari nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Rajeswari nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification of Rajeswari nagar?

Rajeswari nagar is classified as Residential Special Type - I, which indicates its intended use for residential purposes.