Guideline Value for RAJARAM GARDEN

Rajaram Garden guideline value

The current guideline value of Rajaram Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Rajaram Garden has changed

Over the years, the guideline value of Rajaram Garden has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision, and finally, it has risen to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased significantly by 49%. Overall, the guideline value has increased by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO carrying a 2024 figure ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Rajaram Garden is below this median.

• Ragavendra Nagar: Rs 1,100 per sq.ft (2024)
• Ramalakshmi Ammal Garden: Rs 1,100 per sq.ft (2024)
• Ramasamy Street: Rs 1,100 per sq.ft (2024)
• Ranganathan Street: Rs 2,200 per sq.ft (2024)
• RANGASAMY 1st STREET: Rs 1,100 per sq.ft (2024)
• RANGASAMY 2nd CROSS STREET: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaram Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajaram Garden?

The Sub Registrar Office that covers Rajaram Garden is 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 Karapakkam

The guideline value is a crucial factor during the registration process of property transactions in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid by the buyer.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajaram Garden?

The current guideline value of Rajaram Garden 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 finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Rajaram Garden?

Rajaram Garden is classified as Residential Class III Type - I.

What are the stamp duty rates for properties in Rajaram Garden?

The stamp duty for properties in Rajaram Garden is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Rajaram Garden located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.