Guideline Value for Sri Rajeswari Nagar

Sri Rajeswari Nagar guideline value

The current guideline value of Sri Rajeswari Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Vedanareyanapuram village, under the Chengleput Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Rajeswari Nagar has changed

Over the years, the guideline value of Sri Rajeswari Nagar has seen several revisions. The earliest recorded revision was in 2007, where the value was Rs 123 per sq.ft. It then increased significantly to Rs 600 per sq.ft in 2012, marking an increase of 388%. However, between 2012 and 2017, the value dropped to Rs 402 per sq.ft, a decrease of 33%. The value remained at Rs 600 per sq.ft from 2017 until the 2024 revision.

The most recent revision in 2024 maintains the guideline value at Rs 600 per sq.ft, reflecting no change from the previous year. The overall increase from the 2007 revision to the current 2024 figure is 388%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Vedanareyanapuram

In Vedanareyanapuram, there are 31 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,050 per sq.ft. The median value is Rs 600 per sq.ft, which is equal to the current guideline value of Sri Rajeswari Nagar.

• Sri Nagar: Rs 500 per sq.ft (2024)
• Sri Magaveer Nagar: Rs 501 per sq.ft (2024)
• Thendral Nagar: Rs 600 per sq.ft (2024)
• Shanthi Nagar: Rs 600 per sq.ft (2024)
• Thulasinga Nagar: Rs 400 per sq.ft (2024)
• Valmigi nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Rajeswari Nagar

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Rajeswari Nagar?

The Sub Registrar Office that covers Sri Rajeswari Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vedanareyanapuram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Rajeswari Nagar?

The current guideline value of Sri Rajeswari Nagar is Rs 600 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 123 per sq.ft in 2007 to Rs 600 per sq.ft in 2024, reflecting an overall increase of 388% over the years.

What is the land classification of Sri Rajeswari Nagar?

Sri Rajeswari Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Sri Rajeswari Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 6,00,000, the total fees would amount to Rs 54,000.

Which office handles property registrations for Sri Rajeswari Nagar?

The Chengleput Joint I Sub Registrar Office handles property registrations for Sri Rajeswari Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.