Guideline Value for R.R.Nagar Annexe

R.R.Nagar Annexe guideline value

The current guideline value of R.R.Nagar Annexe is Rs 1,550 per sq.ft, effective from 1 July 2024. This area is located in Srinivasapuram village under the Kunrathur Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

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

The guideline value for R.R.Nagar Annexe has undergone several revisions over the years. In 2012, the value was set at Rs 1,400 per sq.ft, which then decreased to Rs 938 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, rising to Rs 1,400 per sq.ft. The most recent revision in 2024 has set the value at Rs 1,550 per sq.ft, marking an 11% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,550 to Rs 7,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing R.R.Nagar Annexe's 2024 figure below that median.

• Sai Rai Nagar: Rs 1,550 per sq.ft (2024)
• Sangamithra Avenue: Rs 2,000 per sq.ft (2024)
• Ramachandra Nagar: Rs 1,750 per sq.ft (2024)
• Rajarathinam Nagar / Annexe: Rs 2,000 per sq.ft (2024)
• Seven Hills Nagar: Rs 2,000 per sq.ft (2024)
• Ragavendira Nagar: Rs 2,000 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value would be Rs 15,50,000. The stamp duty at 7% would amount to Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total to Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers R.R.Nagar Annexe?

The Sub Registrar Office that covers R.R.Nagar Annexe 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 Srinivasapuram

The guideline value is a crucial factor in property transactions in Srinivasapuram. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price instead.

Frequently asked questions

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

The current guideline value of R.R.Nagar Annexe is Rs 1,550 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 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then back to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,550 per sq.ft in 2024.

What is the land classification for R.R.Nagar Annexe?

R.R.Nagar Annexe is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for R.R.Nagar Annexe?

The registration office for R.R.Nagar Annexe is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in R.R.Nagar Annexe?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,550 per sq.ft would incur a total guideline value of Rs 15,50,000.