Guideline Value for Sri Rajeswari Nagar

Sri Rajeswari Nagar guideline value

The current guideline value of Sri Rajeswari Nagar, located in Malayambakkam village under the Kunrathur SRO, is Rs 935 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Rajeswari Nagar has changed

The guideline value for Sri Rajeswari Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 550 per sq.ft, which increased to Rs 850 per sq.ft in 2012. However, this value dropped to Rs 569 per sq.ft in 2017. Following this, the value increased significantly to Rs 850 per sq.ft in 2023, and then further rose to Rs 935 per sq.ft in the 2024 revision. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The value then increased by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 70%.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO, with a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median value is Rs 935 per sq.ft, which is equal to the current guideline value of Sri Rajeswari Nagar.

• Sri Rajarajeswari Nagar: Rs 935 per sq.ft (2024)
• Sri Ramiah Nagar: Rs 935 per sq.ft (2024)
• Sri Ranganathar Nagar: Rs 935 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,210 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 880 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 450 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 guideline value of Rs 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty at 7% would amount to Rs 65,450, and the registration fee at 2% would be Rs 18,700, totaling Rs 84,150. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Malayambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Rajeswari Nagar?

The current guideline value of Sri Rajeswari Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 935 per sq.ft in 2024, reflecting an overall increase of 70% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 84,150.

Which office handles property registrations in Sri Rajeswari Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Sri Rajeswari Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value determined for properties in Malayambakkam?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market conditions. It serves as the minimum value for property registration in the area.