Guideline Value for R.B Nagar Extension

R.B Nagar Extension guideline value

The current guideline value of R.B Nagar Extension is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of R.B Nagar Extension has changed

The guideline value for R.B Nagar Extension has seen several revisions over the years. The oldest recorded figure is from 2017, which was Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 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 guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current value for R.B Nagar Extension.

• R.B.Nagar: Rs 1,650 per sq.ft (2024)
• Raveendranath Tagoore Street: Rs 1,650 per sq.ft (2024)
• Rani Elizabeth Street: Rs 1,650 per sq.ft (2024)
• Rani Anna St: Rs 1,650 per sq.ft (2024)
• Roseling Nagar: Rs 2,750 per sq.ft (2024)
• Roselin nagar 2nd street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in R.B Nagar Extension

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

Which Sub Registrar Office covers R.B Nagar Extension?

The Sub Registrar Office that covers R.B Nagar Extension is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Chitlapakkam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the registration process. Buyers should be aware that the guideline value is updated periodically, reflecting changes in the market.

When a property is sold, the guideline value is used to determine the minimum value for which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of R.B Nagar Extension?

The current guideline value of R.B Nagar Extension is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,650 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty rates applicable in R.B Nagar Extension?

The stamp duty rate applicable in R.B Nagar Extension is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for R.B Nagar Extension?

The Sub Registrar Office for R.B Nagar Extension is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

What are the other streets with the same guideline value in Chitlapakkam?

Other streets in Chitlapakkam with the same guideline value of Rs 1,650 per sq.ft include R.B.Nagar, Raveendranath Tagoore Street, Rani Elizabeth Street, and Rani Anna St.