Guideline Value for RASI NAGAR PHASE-II

Rasi Nagar Phase-II guideline value

The current guideline value of Rasi Nagar Phase-II in Kudalur village is Rs 111 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

How the guideline value of Rasi Nagar Phase-II has changed

Over the years, the guideline value for Rasi Nagar Phase-II has seen several revisions. The most recent revision in 2024 maintains the value at Rs 111 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 74 per sq.ft, reflecting a significant increase of 50% from the previous 2023 figure. The 2012 revision showed a slight decrease to Rs 110 per sq.ft from Rs 74 per sq.ft in 2017, marking a decline of 33%.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by just 1%.

Guideline values in Kudalur

In Kudalur, there are 10 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 299 per sq.ft, with a median value of Rs 100 per sq.ft. The guideline value of Rasi Nagar Phase-II is above this median.

• Rallys Nagar: Rs 100 per sq.ft (2024)
• Sasi Nagar: Rs 100 per sq.ft (2024)
• Sri Mugambigai Nagar: Rs 100 per sq.ft (2024)
• Srinivasa Nagar: Rs 100 per sq.ft (2024)
• Thirumalai Nagar: Rs 100 per sq.ft (2024)
• Madan City: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Rasi Nagar Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 111 per sq.ft, the total guideline value amounts to Rs 1,11,000. The stamp duty at 7% would be Rs 7,770, and the registration fee at 2% would be Rs 2,220, bringing the total fees to Rs 9,990. 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 Rasi Nagar Phase-II?

The Rasi Nagar Phase-II area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kudalur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rasi Nagar Phase-II?

The current guideline value of Rasi Nagar Phase-II is Rs 111 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 111 per sq.ft from 2023 to 2024. It increased by 50% from Rs 74 per sq.ft in 2017 to Rs 111 per sq.ft in 2023, and there was a slight decrease from Rs 110 per sq.ft in 2012 to Rs 74 per sq.ft in 2017.

What is the land classification of Rasi Nagar Phase-II?

Rasi Nagar Phase-II is classified as Mixed Type - I land, which is relevant for understanding the types of developments allowed in the area.

What are the stamp duty and registration fees for property in Rasi Nagar Phase-II?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 1,11,000, the total fees would amount to Rs 9,990.

Which Sub Registrar Office covers Rasi Nagar Phase-II?

The Madurandakam Sub Registrar Office covers Rasi Nagar Phase-II, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.