Guideline Value for RAJAM GAREN

Rajam Garen guideline value

The current guideline value of Rajam Garen in Chemmancheri village, under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Rajam Garen has changed

Over the years, the guideline value of Rajam Garen has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

The changes between the revisions highlight a significant increase of 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Rajam Garen's 2024 figure below that median.

• Rajendran Garden II: Rs 1,100 per sq.ft (2024)
• Rajendran Garen - I: Rs 3,300 per sq.ft (2024)
• Rajeswari Garden: Rs 3,300 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,800 per sq.ft (2024)
• Rajiv Gandhi Nagar Mettu Colony Street: Rs 2,800 per sq.ft (2024)
• Radhakrishnan Garden: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Rajam Garen

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajam Garen?

Rajam Garen falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Chemmancheri, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded accurately for taxation purposes.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the stamp duty and registration fees applicable during the transaction process. This value is updated periodically, reflecting changes in the real estate market.

Frequently asked questions

What is the current guideline value of Rajam Garen?

The current guideline value of Rajam Garen is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft in 2024.

What is the land classification of Rajam Garen?

Rajam Garen is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for properties in Rajam Garen?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles the registration of properties in Rajam Garen?

The Neelankarai Sub Registrar Office handles the registration of properties in Rajam Garen, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.