Guideline Value for RAJA NAGAR

Raja Nagar guideline value

The current guideline value of Raja Nagar in Vinayaganaloore village is Rs 103 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

How the guideline value of Raja Nagar has changed

The guideline value for Raja Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which was then reduced to Rs 67 per sq.ft in the 2017 revision. Following this, the value increased to Rs 100 per sq.ft in the 2023 revision and further rose to Rs 103 per sq.ft in the 2024 revision. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33% in the guideline value. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 3%.

Guideline values in Vinayaganaloore

In Vinayaganaloore, there are eight streets under the Madurandakam SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 150 per sq.ft. The median value for these streets is Rs 102 per sq.ft, placing Raja Nagar's 2024 figure above this median.

• Saranalaya Nagar Phase-I: Rs 150 per sq.ft (2024)
• Sree Kamatchi Nagar: Rs 102 per sq.ft (2024)
• Sri Balaji Nagar: Rs 101 per sq.ft (2024)
• Sri Gubera Ganesh Nagar: Rs 100 per sq.ft (2024)
• Sri Guberan Nagar: Rs 101 per sq.ft (2024)
• Vasantham Nagar: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, while the registration fee at 2% would be Rs 2,060, bringing the total charges to Rs 9,270. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Nagar?

The Raja Nagar area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial figure used during the registration process when buying or selling property in Vinayaganaloore. It helps determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property transaction occurs, the guideline value is assessed to ensure that the appropriate fees are collected based on the property's value. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Raja Nagar?

The current guideline value of Raja Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification of Raja Nagar?

Raja Nagar is classified as Mixed Type - I land, which reflects its diverse usage potential.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total charges would be Rs 9,270.

Which office handles the registration for Raja Nagar?

The Madurandakam Sub Registrar Office handles the registration for Raja Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.