Guideline Value for RISHI NAGAR

Rishi Nagar guideline value

The current guideline value of Rishi Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Thammanur village under the Walajabad SRO and is classified as Residential Class I Type - I.

How the guideline value of Rishi Nagar has changed

Over the years, the guideline value of Rishi Nagar has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the 2023 revision. However, prior to that, in 2017, the guideline value was Rs 100 per sq.ft, marking a 50% increase by 2023. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but overall from 2012 to 2024, the guideline value has remained the same at Rs 150 per sq.ft. The 2024 revision reflects no change from the previous year, maintaining the value at Rs 150 per sq.ft.

Guideline values in Thammanur

In Thammanur, there are 16 streets under the Walajabad SRO that have a 2024 guideline value ranging from Rs 150 to Rs 448 per sq.ft, with a median value of Rs 300 per sq.ft. Rishi Nagar's 2024 figure is below this median.

• Solar Nagar: Rs 300 per sq.ft (2024)
• Sri Balaji Nagar: Rs 150 per sq.ft (2024)
• Oragadam Avenue: Rs 200 per sq.ft (2024)
• Sri Sai City: Rs 200 per sq.ft (2024)
• Sri Sathya Nagar: Rs 300 per sq.ft (2024)
• M.J.Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Rishi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the guideline value would be Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. 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 Rishi Nagar?

The Sub Registrar Office covering Rishi Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thammanur. It determines the minimum value at which a property can be registered, ensuring that all transactions are documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rishi Nagar?

The current guideline value of Rishi Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained Rs 150 per sq.ft since 2012, with a significant increase of 50% from Rs 100 per sq.ft in 2017 to Rs 150 in 2023. The value has not changed from 2023 to 2024.

What are the stamp duty and registration fees for Rishi Nagar?

For a 1,000 sq.ft plot, the guideline value is Rs 1,50,000. The stamp duty at 7% is Rs 10,500, and the registration fee at 2% is Rs 3,000, totaling Rs 13,500.

Which Sub Registrar Office covers Rishi Nagar?

The Walajabad Sub Registrar Office covers Rishi Nagar, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

What is the median guideline value in Thammanur?

The median guideline value in Thammanur is Rs 300 per sq.ft, with Rishi Nagar's value being below this median at Rs 150 per sq.ft.