Guideline Value for RAJ NAGAR

Raj Nagar guideline value

The current guideline value of Raj Nagar, located in Gooduvancheri village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Raj Nagar has changed

The guideline value for Raj Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft. In the subsequent 2023 revision, the value remained unchanged at Rs 1,500 per sq.ft. The most recent 2024 revision also retains this figure at Rs 1,500 per sq.ft, reflecting a 49% increase from the 2017 revision.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Therefore, the changes from 2017 to 2024 show a consistent increase of 49% over this period.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value is Rs 1,500 per sq.ft, which is equal to the current guideline value for Raj Nagar.

• Ramdoss Street: Rs 1,100 per sq.ft (2024)
• Ramu Street: Rs 1,500 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Rajaji Street: Rs 2,001 per sq.ft (2024)
• Railwaystation Road: Rs 2,001 per sq.ft (2024)
• Radhakrishnan Street: Rs 2,001 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 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raj Nagar?

The Sub Registrar Office that covers Raj Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Gooduvancheri. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair assessment of the property's worth.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Raj Nagar?

The current guideline value of Raj Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft since the 2023 revision, which also had the same value. It increased from Rs 1,005 per sq.ft in 2017, showing a 49% rise overall from 2017 to 2024.

What is the land classification for Raj Nagar?

The land classification for Raj Nagar is Residential Special Type - I, indicating the type of development allowed in this area.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Raj Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 1,35,000 in fees.