Guideline Value for RAJAJI NAGAR

Rajaji Nagar guideline value

The current guideline value of Rajaji Nagar, located in Nanthiambakkam village under the Thiruvottiyur SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Rajaji Nagar has changed

The guideline value for Rajaji Nagar has seen several revisions over the years. Starting from Rs 37 per sq.ft in 2002, it increased to Rs 42 per sq.ft in 2003, marking a 14% rise. The value then rose to Rs 50 per sq.ft in 2007, reflecting a 19% increase. A significant jump occurred in 2012 when the value reached Rs 300 per sq.ft, representing a 500% increase from the previous figure. However, it decreased to Rs 201 per sq.ft in 2017, showing a decline of 33%. The next revision in 2023 set the value at Rs 300 per sq.ft, followed by the current rate of Rs 330 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 792%. The register has no figure for the years not listed for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median value is Rs 330 per sq.ft, which means that Rajaji Nagar's current guideline value aligns with this median.

• Ragavendra Nagar (All Phases): Rs 330 per sq.ft (2024)
• Ragavendra Nagar: Rs 330 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 330 per sq.ft (2024)
• Prakash Avenue: Rs 330 per sq.ft (2024)
• Ranga Nagar: Rs 330 per sq.ft (2024)
• Pidaraiyar Koil Street: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total fees together to Rs 29,700. 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 Rajaji Nagar?

The Sub Registrar Office that covers Rajaji Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Nanthiambakkam. It is the minimum value set by the government for registration purposes, ensuring that properties are registered at a fair value. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in determining the financial obligations associated with the transaction, including the necessary fees that must be paid to complete the registration process.

Frequently asked questions

What is the current guideline value of Rajaji Nagar?

The current guideline value of Rajaji Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 37 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, showing an overall increase of 792% over this period.

What is the land classification of Rajaji Nagar?

Rajaji Nagar is classified as Residential Special Type - II.

What are the stamp duty and registration fees for property in Rajaji Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 3,30,000, with stamp duty at Rs 23,100 and registration fee at Rs 6,600, totaling Rs 29,700.

Which office handles the registration for Rajaji Nagar?

The Thiruvottiyur Sub Registrar Office handles the registration for Rajaji Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.