Guideline Value for RAJARATHINAM NAGAR

Rajarathinam Nagar guideline value

The current guideline value of Rajarathinam Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Koladi village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajarathinam Nagar has changed

The guideline value for Rajarathinam Nagar has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 233%. However, it decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 1,000 per sq.ft in 2023, followed by a further increase to Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value is Rs 1,100 per sq.ft, which matches the 2024 figure for Rajarathinam Nagar. Below are the guideline values for other streets in Koladi:

• Rajarathinam Nagar Road And 1 To 6 Cross Street: Rs 1,100 per sq.ft (2024)
• Raja Nagar: Rs 660 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 880 per sq.ft (2024)
• Raju Nagar: Rs 660 per sq.ft (2024)
• Ramadasar Road 1st Cross Street: Rs 660 per sq.ft (2024)
• Ramadasar Road 2nd Cross Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarathinam Nagar

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, bringing the total fees 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajarathinam Nagar?

The Sub Registrar Office that covers Rajarathinam Nagar is the Chennai South Joint II 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 Koladi

The guideline value is a crucial factor in the registration process when buying or selling property in Koladi. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these fees are calculated based on the official valuation of the property.

When a property is sold, the guideline value helps in assessing the legal requirements for registration. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any potential disputes during the transaction.

Frequently asked questions

What is the current guideline value of Rajarathinam Nagar?

The current guideline value of Rajarathinam Nagar 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 significantly from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Which Sub Registrar Office covers Rajarathinam Nagar?

The Chennai South Joint II Sub Registrar Office covers Rajarathinam Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification of Rajarathinam Nagar?

The land classification for Rajarathinam Nagar is Residential Class II Type - I, indicating its designation for residential purposes.