Guideline Value for R.G. Nagar

R.G. Nagar guideline value

The current guideline value of R.G. Nagar, located in Pammathukulam village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

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

The guideline value for R.G. Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012, marking a 150% rise. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft, a decline of 33%. The value then rose to Rs 500 per sq.ft in 2023, and further increased to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the increase was 49%, and overall, from 2007 to 2024, there has been a substantial increase of 175%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 825 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the current guideline value of R.G. Nagar.

• Royal Nagar: Rs 550 per sq.ft (2024)
• Saddam Hussain Nagar: Rs 550 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 550 per sq.ft (2024)
• Rahumath Avenue: Rs 550 per sq.ft (2024)
• Raghavendra Nagar: Rs 550 per sq.ft (2024)
• Punitha Boomi: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in R.G. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.G. Nagar?

The Sub Registrar Office that covers R.G. Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pammathukulam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

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

The current guideline value of R.G. Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What are the stamp duty and registration fees for property in R.G. Nagar?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles property registrations for R.G. Nagar?

The Redhills Sub Registrar Office handles property registrations for R.G. Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value in property transactions?

The guideline value is used as a benchmark for determining the minimum value for property registration and is essential for calculating stamp duty and registration fees during property transactions.