Guideline Value for R.B.Nagar

R.B.Nagar guideline value

The current guideline value of R.B.Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

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

The guideline value for R.B.Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,500 per sq.ft. The latest revision in 2024 raised the guideline value to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. 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 for 2024 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 of R.B.Nagar.

• R.B Nagar Extension: 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

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the 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, totaling 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 the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers R.B.Nagar?

The Sub Registrar Office covering R.B.Nagar 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 is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of R.B.Nagar?

R.B.Nagar is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for R.B.Nagar?

For a 1,000 sq.ft plot, the guideline value is Rs 16,50,000, with a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for R.B.Nagar?

The Tambaram Joint 1 Sub Registrar Office handles registrations for R.B.Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.