Guideline Value for RB NAGAR PHASE-II

Rb Nagar Phase-II guideline value

The current guideline value of Rb Nagar Phase-II is Rs 104 per sq.ft, effective from 1 July 2024. This property is located in Palliagaram village under the Salavakkam Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

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

The guideline value of Rb Nagar Phase-II has undergone several revisions over the years. In 2012, the value was set at Rs 100 per sq.ft. This was followed by a decrease to Rs 67 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 100 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the value at Rs 104 per sq.ft, which is an increase of 4% from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 4%.

Guideline values in Palliagaram

In Palliagaram, there are a total of 7 streets under the Salavakkam SRO that carry a 2024 guideline value of Rs 104 per sq.ft, with Rb Nagar Phase-II's value aligning with the median of Rs 104 per sq.ft. The following are the other streets in Palliagaram:

• Rb Nagar: Rs 104 per sq.ft (2024)
• Rajinikanth Nagar: Rs 104 per sq.ft (2024)
• Rajarathinam Nagar: Rs 104 per sq.ft (2024)
• Jyothi Nagar: Rs 104 per sq.ft (2024)
• Jothi Nagar Part-II: Rs 104 per sq.ft (2024)
• Jothi Nagar Part-I: Rs 104 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 104 per sq.ft, the total guideline value amounts to Rs 1,04,000. The stamp duty at 7% would be Rs 7,280, and the registration fee at 2% would be Rs 2,080, bringing the total cost for these fees to Rs 9,360. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rb Nagar Phase-II?

The Rb Nagar Phase-II is covered by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Palliagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a property transaction, the guideline value is assessed to calculate the necessary fees, ensuring compliance with legal requirements. This helps in maintaining transparency and standardization in property dealings.

Frequently asked questions

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

The current guideline value of Rb Nagar Phase-II is Rs 104 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 104 per sq.ft in 2024.

What is the land classification for Rb Nagar Phase-II?

Rb Nagar Phase-II is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

Where can I find the registration office for Rb Nagar Phase-II?

The registration office for Rb Nagar Phase-II is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is stamp duty calculated for properties in Rb Nagar Phase-II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 7,280.