Guideline Value for Rajiv Nagar Extn I, II and III

Rajiv Nagar Extn I, II and III guideline value

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

How the guideline value of Rajiv Nagar Extn I, II and III has changed

Starting from the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure saw a decrease to Rs 1,005 per sq.ft in the 2017 revision, reflecting a change of -33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the 2023 value.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which aligns with the current guideline value for Rajiv Nagar Extn I, II and III.

• Rajiv Nagar Extension: Rs 1,650 per sq.ft (2024)
• Rajiv Nagar: Rs 990 per sq.ft (2024)
• Rajeswari Nagar: 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 Rajiv Nagar Extn I, II and III

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost together to Rs 1,48,500. 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 detailed calculations.

Which Sub Registrar Office covers Rajiv Nagar Extn I, II and III?

The Sub Registrar Office that covers Rajiv Nagar Extn I, II and III 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 during the registration of property transactions in Varadarajapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted fairly according to the established rates.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for completing the transaction legally. This ensures that both parties are aware of the financial implications of the sale based on the prescribed rates.

Frequently asked questions

What is the current guideline value for Rajiv Nagar Extn I, II and III?

The current guideline value for Rajiv Nagar Extn I, II and III is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10% during this period.

What is the stamp duty rate for property in Rajiv Nagar Extn I, II and III?

The stamp duty rate for property transactions in Rajiv Nagar Extn I, II and III is 7% of the guideline value or the sale price, whichever is higher.

Where is the Padappai Sub Registrar Office located?

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

What are the other streets in Varadarajapuram with their guideline values?

Other streets in Varadarajapuram include Rajiv Nagar, Rajeswari Nagar, Raja Nagar @ Gajalakshmi Nagar, Raja Nagar, and Raghavendra Nagar, with guideline values ranging from Rs 990 to Rs 1,650 per sq.ft in 2024.