Guideline Value for Rajiparish nagar

Rajiparish nagar guideline value

The current guideline value of Rajiparish nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Rajiparish nagar has changed

The guideline value for Rajiparish nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to Rs 2,750 per sq.ft in the 2024 revision.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The latest change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 value is Rs 1,650 per sq.ft, placing Rajiparish nagar's 2024 figure above this median.

• Rajeswari Nagar: Rs 1,650 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 2,750 per sq.ft (2024)
• Rajendran Road: Rs 1,100 per sq.ft (2024)
• Rajendran Avenue Ext-1: 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)

Stamp duty and registration fee for property in Rajiparish nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Rajiparish nagar?

The Sub Registrar Office that covers Rajiparish nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This helps in maintaining uniformity in property transactions and prevents undervaluation of properties.

Frequently asked questions

What is the current guideline value of Rajiparish nagar?

The current guideline value of Rajiparish nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase of 10% from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024.

What is the land classification of Rajiparish nagar?

Rajiparish nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty rates for properties in Rajiparish nagar?

The stamp duty rate for properties in Rajiparish nagar is 7%, calculated based on the higher of the guideline value or the sale price.

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

The Tambaram Joint 1 Sub Registrar Office, which covers Rajiparish nagar, is located at No.26, Mes Road, East Tambaram, Chennai-600059.