Guideline Value for ROJA NAGAR

Roja Nagar guideline value

The current guideline value of Roja Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Puzhuthivakkam village, under the Madurandakam Sub Registrar Office, and is classified as Residential Class I Type - I.

How the guideline value of Roja Nagar has changed

In the revisions of the guideline value, the earliest figure available for Roja Nagar is from 2007, which was Rs 20 per sq.ft. This increased significantly to Rs 100 per sq.ft in 2012, showing a substantial rise of 400%. However, in the 2017 revision, the value was adjusted to Rs 67 per sq.ft, reflecting a decrease of 33%. The subsequent revision in 2023 maintained the value at Rs 100 per sq.ft, and the latest revision in 2024 also holds the same rate, resulting in no change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 400%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Puzhuthivakkam

Within Puzhuthivakkam, there are 11 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Roja Nagar's 2024 figure below that median.

• Sri Raghavendra Nagar Phase-I: Rs 200 per sq.ft (2024)
• Sri Sai Garden: Rs 200 per sq.ft (2024)
• Sri Sai Ramana Gorden: Rs 100 per sq.ft (2024)
• Thirumagal Nagar: Rs 200 per sq.ft (2024)
• Thirumalai Nagar: Rs 200 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Roja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees together to Rs 9,000. 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 precise calculations.

Which Sub Registrar Office covers Roja Nagar?

The Roja Nagar area falls under 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 Puzhuthivakkam

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

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

Frequently asked questions

What is the current guideline value of Roja Nagar?

The current guideline value of Roja Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 20 per sq.ft in 2007, rising to Rs 100 in 2012, then decreasing to Rs 67 in 2017, and maintaining Rs 100 in both 2023 and 2024.

What is the land classification of Roja Nagar?

Roja Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in Roja Nagar?

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

Where can I find the Sub Registrar Office for Roja Nagar?

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