Guideline Value for RAJAMMAL NAGAR

Rajammal Nagar guideline value

The current guideline value of Rajammal Nagar in Jelandianpettai village is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Rajammal Nagar has changed

Over the years, the guideline value of Rajammal Nagar has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%. The overall change from 2012 to 2024 is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft, and the median value is Rs 2,200 per sq.ft. The guideline value of Rajammal Nagar is above this median.

• Rajaji Street Amaravathi Nagar: Rs 2,200 per sq.ft (2024)
• Rajaji Street: Rs 2,200 per sq.ft (2024)
• Rajathi Street: Rs 2,200 per sq.ft (2024)
• Rajaganapathy Nagar: Rs 1,320 per sq.ft (2024)
• Rajeswari Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajammal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajammal Nagar?

Rajammal Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Jelandianpettai. It is used to determine the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value must be considered as it affects the overall costs involved in the transaction. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can impact their financial planning.

Frequently asked questions

What is the current guideline value of Rajammal Nagar?

The current guideline value of Rajammal Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the stamp duty rate for properties in Rajammal Nagar?

The stamp duty rate for properties in Rajammal Nagar is 7% of the guideline value or the sale price, whichever is higher.

What are the registration fees for properties in Rajammal Nagar?

The registration fee for properties in Rajammal Nagar is 2% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Rajammal Nagar?

The Chennai South Joint I Sub Registrar Office handles property registrations in Rajammal Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.