Guideline Value for RAJA GARDEN

Raja Garden guideline value

The current guideline value of Raja Garden, located in Vanagaram village, is Rs 1,660 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Raja Garden has changed

The guideline value for Raja Garden has seen several revisions over the years. The earliest figure available is from 2002, which was Rs 63 per sq.ft. In 2003, it increased to Rs 105 per sq.ft, marking a 67% rise. The value then surged dramatically to Rs 500 per sq.ft in 2007, a 376% increase. The 2012 revision saw the value at Rs 1,500 per sq.ft, reflecting a substantial 200% increase from the previous revision. However, in 2017, the value dropped to Rs 1,005 per sq.ft, a decrease of 33%. The guideline value increased again in 2023 to Rs 1,500 per sq.ft, and most recently, it has risen to Rs 1,660 per sq.ft in 2024, which is an 11% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,535%. It is important to note that there are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value is Rs 1,660 per sq.ft, which is equal to the current guideline value for Raja Garden.

• Raghavan Street: Rs 770 per sq.ft (2024)
• Radhakrishnan Street: Rs 1,660 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 1,320 per sq.ft (2024)
• Radhakrishnan 2nd Street: Rs 1,320 per sq.ft (2024)
• Radhakrishnan 1st Street: Rs 1,320 per sq.ft (2024)
• Rajan Nagar Extn.: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value would be Rs 16,60,000. The stamp duty at 7% would amount to Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, making the total charges Rs 1,49,400. 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 more information.

Which Sub Registrar Office covers Raja Garden?

The Raja Garden area is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Vanagaram, as it serves as the basis for calculating stamp duty and registration fees. Buyers must be aware that these fees are determined based on the higher of the guideline value or the sale price, ensuring that the appropriate taxes are paid during the registration process.

When engaging in property transactions in Vanagaram, it is essential to consult the latest guideline values to understand the financial implications fully. This knowledge helps in budgeting for additional costs associated with property registration.

Frequently asked questions

What is the current guideline value of Raja Garden?

The current guideline value of Raja Garden is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 63 per sq.ft in 2002 to Rs 1,660 per sq.ft in 2024, reflecting an overall increase of 2,535% over this period.

What is the stamp duty rate for properties in Raja Garden?

The stamp duty rate for properties in Raja Garden is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Raja Garden located?

The Sub Registrar Office for Raja Garden is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the guideline values for other streets in Vanagaram?

Other streets in Vanagaram have varying guideline values, with Raghavan Street at Rs 770 per sq.ft, Radhakrishnan Street at Rs 1,660 per sq.ft, and several others ranging from Rs 1,100 to Rs 1,320 per sq.ft.