Guideline Value for RAJA SHANMUGAM NAGAR/ EXTENSION/CROSS STREETS

Raja Shanmugam Nagar/ Extension/Cross Streets guideline value

The current guideline value for Raja Shanmugam Nagar/ Extension/Cross Streets is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Raja Shanmugam Nagar/ Extension/Cross Streets has changed

Over the years, the guideline value for Raja Shanmugam Nagar/ Extension/Cross Streets has seen significant changes. The 2007 revision recorded a value of Rs 500 per sq.ft, which increased to Rs 1,400 per sq.ft in 2012, marking a substantial rise of 180%. However, the value then decreased to Rs 938 per sq.ft in 2017, a decline of 33%. The subsequent revision in 2023 set the value at Rs 1,400 per sq.ft, followed by the current 2024 revision which increased it to Rs 1,500 per sq.ft, reflecting a growth of 7%.

It is noteworthy that the register does not contain figures for the years 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, it has risen by 200%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are a total of 177 streets under the Thiruvottiyur SRO, with guideline values for 2024 ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, positioning Raja Shanmugam Nagar/ Extension/Cross Streets below this median.

• Rajeswari Nagar: Rs 3,300 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,800 per sq.ft (2024)
• Rajiv Nagar: Rs 3,300 per sq.ft (2024)
• Railway Station Road: Rs 2,800 per sq.ft (2024)
• Radiance Prosper: Rs 7,463 per sq.ft (2024)
• Ramanathapuram: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Shanmugam Nagar/ Extension/Cross Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total 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, bringing the total to Rs 1,35,000. 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 detailed calculations.

Which Sub Registrar Office covers Raja Shanmugam Nagar/ Extension/Cross Streets?

The Sub Registrar Office that covers Raja Shanmugam Nagar/ Extension/Cross Streets is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are conducted at a fair price as per government regulations.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value for Raja Shanmugam Nagar/ Extension/Cross Streets?

The current guideline value for Raja Shanmugam Nagar/ Extension/Cross Streets 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 changed significantly from Rs 500 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, representing an overall increase of 200% over this period.

What is the registration office for Raja Shanmugam Nagar/ Extension/Cross Streets?

The registration office for Raja Shanmugam Nagar/ Extension/Cross Streets is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the stamp duty rates applicable in Thiruvottiyur?

The stamp duty rate in Thiruvottiyur is generally set at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.

Where can I find more information about guideline values in Thiruvottiyur?

For more information about guideline values in Thiruvottiyur, you can refer to the Registration Department's guideline value register (TNReginet).