Guideline Value for RAJA NAGAR

Raja Nagar guideline value

The current guideline value of Raja Nagar is Rs 401 per sq.ft, effective from 1 July 2024. This street is located in Malliyankaranai village, under the Uthiramerur SRO, classified as Residential Special Type - II.

How the guideline value of Raja Nagar has changed

Looking at the historical revisions, the guideline value for Raja Nagar was Rs 400 per sq.ft in 2023, which was a slight increase from Rs 268 per sq.ft in 2017. There were no figures available for the years 2002, 2003, and 2007 for this street. The 2012 revision also recorded a value of Rs 400 per sq.ft, showing a decrease of 33% from the 2017 figure.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 401 per sq.ft.

Guideline values in Malliyankaranai

In Malliyankaranai, there are 42 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 603 per sq.ft, with the median being Rs 401 per sq.ft. Raja Nagar's 2024 guideline value is equal to this median.

• Ramji Nagar: Rs 300 per sq.ft (2024)
• Royal City: Rs 401 per sq.ft (2024)
• Royal Enclave Phase I: Rs 300 per sq.ft (2024)
• Royal Enclave Phase-I Extension: Rs 251 per sq.ft (2024)
• Royal Enclave Phase III: Rs 300 per sq.ft (2024)
• Sai Ram Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Nagar

For a 1,000 sq.ft plot at the current rate of Rs 401 per sq.ft, the guideline value would be Rs 4,01,000. The stamp duty at 7% would amount to Rs 28,070, and the registration fee at 2% would be Rs 8,020, totaling Rs 36,090. 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 details.

Which Sub Registrar Office covers Raja Nagar?

The Uthiramerur Sub Registrar Office covers Raja Nagar. The address is No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Malliyankaranai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with the registration requirements set by the government.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Raja Nagar?

The current guideline value of Raja Nagar is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, and now to Rs 401 per sq.ft in 2024. Notably, there were no figures available for the years 2002, 2003, and 2007.

What is the classification of land in Raja Nagar?

Raja Nagar is classified as Residential Special Type - II. This classification affects the guideline value and property transactions in the area.

Where can I find the Uthiramerur Sub Registrar Office?

The Uthiramerur Sub Registrar Office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

How is stamp duty calculated for properties in Raja Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 4,01,000, the stamp duty at 7% would be Rs 28,070.