Guideline Value for RAJ NAGAR

Raj Nagar guideline value

The current guideline value for Raj Nagar in Kolathur village is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Mixed Special Type - I.

How the guideline value of Raj Nagar has changed

Over the years, the guideline value for Raj Nagar has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 469 per sq.ft. However, this figure increased significantly in the 2023 revision, returning to Rs 700 per sq.ft, and has remained the same in the 2024 revision, showing a 49% increase from the 2017 figure.

Notably, the revisions for the years 2002, 2003, and 2007 have no figures recorded for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained stable at Rs 700 per sq.ft.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Raj Nagar's 2024 figure above this median.

• Rainbow Garden: Rs 1,344 per sq.ft (2024)
• Rathis Amaravathi: Rs 600 per sq.ft (2024)
• Ponni Amman Nagar: Rs 600 per sq.ft (2024)
• Sare Realty Project Namely Meadowville: Rs 600 per sq.ft (2024)
• Sath Guru Garden (Avenue): Rs 600 per sq.ft (2024)
• Palace Estate City -V: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Raj Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value totals Rs 7,00,000. The stamp duty is charged at 7%, amounting to Rs 49,000, while the registration fee is 2%, which comes to Rs 14,000. Therefore, the total cost for these fees together is Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Raj Nagar?

Raj Nagar is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Kolathur

The guideline value plays a crucial role during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This means that both buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Raj Nagar?

The current guideline value of Raj Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft from 2012 to 2024, with a drop to Rs 469 per sq.ft in 2017. It returned to Rs 700 per sq.ft in the 2023 revision.

What is the land classification for Raj Nagar?

Raj Nagar is classified as Mixed Special Type - I, indicating the type of land use permitted in this area.

What are the stamp duty and registration fees for property in Raj Nagar?

For a property valued at Rs 7,00,000, the stamp duty is Rs 49,000 and the registration fee is Rs 14,000, totaling Rs 63,000.

Which Sub Registrar Office covers Raj Nagar?

Raj Nagar is under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.