Guideline Value for RAJAMMAL NAGAR

Rajammal Nagar guideline value

The current guideline value of Rajammal Nagar is Rs 935 per sq.ft, effective from 1 July 2024. This area is located in Kannampalayam village under the Kunrathur SRO, classified as Residential Special Type - III.

How the guideline value of Rajammal Nagar has changed

Over the years, the guideline value for Rajammal Nagar has seen several revisions. The earliest recorded revision is from 2012, where the guideline value was Rs 850 per sq.ft. This figure remained the same until the next revision in 2017, where it dropped to Rs 569 per sq.ft. However, from 2017 to 2023, there was a significant increase to Rs 850 per sq.ft, followed by another increase to Rs 935 per sq.ft in 2024, marking a 10% rise from the previous year.

In summary, the guideline value has changed as follows: from Rs 569 per sq.ft in 2017 to Rs 850 per sq.ft in 2023 (a 49% increase), and then to Rs 935 per sq.ft in 2024 (a 10% increase). The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Kannampalayam

In Kannampalayam, there are 75 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 765 to Rs 4,000 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value of Rajammal Nagar at Rs 935 per sq.ft is below this median.

• Radhakrishnan Nagar: Rs 935 per sq.ft (2024)
• Radha Krishna Garden: Rs 935 per sq.ft (2024)
• R.A. Nagar: Rs 990 per sq.ft (2024)
• P.K.S. Nagar: Rs 1,320 per sq.ft (2024)
• Perumal Koil Street: Rs 765 per sq.ft (2024)
• Sai Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Rajammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty at 7% would amount to Rs 65,450, and the registration fee at 2% would be Rs 18,700, making the total charges Rs 84,150. 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 Rajammal Nagar?

The Sub Registrar Office that covers Rajammal Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Kannampalayam. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay during the transaction process. This ensures that the government receives the appropriate revenue from property sales.

When selling property, the guideline value helps in determining the minimum price at which a property can be sold. It is essential for both buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Rajammal Nagar?

The current guideline value of Rajammal Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then to Rs 850 per sq.ft in 2023, and finally to Rs 935 per sq.ft in 2024.

What is the land classification for Rajammal Nagar?

Rajammal Nagar is classified as Residential Special Type - III under the guideline value register.

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

For a property valued at Rs 9,35,000, the stamp duty would be Rs 65,450 and the registration fee would be Rs 18,700, totaling Rs 84,150.

Which office should I contact for registration in Rajammal Nagar?

The Kunrathur Sub Registrar Office handles registrations for Rajammal Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.