Guideline Value for RAJAVARTHINI NAGAR

Rajavarthini Nagar guideline value

The current guideline value for Rajavarthini Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Ammanambakkam village, under the Chengleput Joint II SRO, and is classified as Mixed Special Type - II.

How the guideline value of Rajavarthini Nagar has changed

The guideline value for Rajavarthini Nagar has seen several revisions over the years. In 2007, the value was Rs 80 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The subsequent revisions in 2023 and 2024 maintained the value at Rs 500 per sq.ft, indicating no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2007 to 2024 shows a remarkable increase of 525%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ammanambakkam

In Ammanambakkam, there are 16 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 900 per sq.ft. The median value is Rs 500 per sq.ft, making the guideline value for Rajavarthini Nagar equal to this median.

• Santha Saraswathi Nagar: Rs 500 per sq.ft (2024)
• Sree Ram Nagar: Rs 400 per sq.ft (2024)
• Lake City: Rs 500 per sq.ft (2024)
• Kamaraj Nagar: Rs 850 per sq.ft (2024)
• Jayam Nagar: Rs 501 per sq.ft (2024)
• Ilango Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Rajavarthini Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajavarthini Nagar?

The Sub Registrar Office covering Rajavarthini Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a critical factor in the property registration process in Ammanambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Rajavarthini Nagar?

The current guideline value for Rajavarthini Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 80 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreasing to Rs 335 per sq.ft in 2017, and finally stabilizing at Rs 500 per sq.ft in 2023 and 2024.

What is the land classification for Rajavarthini Nagar?

Rajavarthini Nagar is classified as Mixed Special Type - II, which indicates its zoning and usage regulations.

What are the stamp duty rates in Rajavarthini Nagar?

The stamp duty rate in Rajavarthini Nagar is 7% of the guideline value, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO through the appropriate online resources.