Guideline Value for Rabhin Nagar

Rabhin Nagar guideline value

The current guideline value of Rabhin Nagar, located in Nemilicherry village under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Rabhin Nagar has changed

The guideline value for Rabhin Nagar has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 300 per sq.ft. This figure saw a significant increase to Rs 2,000 per sq.ft in 2012, followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then rose sharply to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,160 per sq.ft in 2024.

In terms of percentage changes, from 2007 to 2012, the value increased by 567%. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects an 8% increase. Overall, from 2007 to 2024, the guideline value has increased by 620%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, which is the same as the guideline value for Rabhin Nagar.

• Quarry Street: Rs 1,100 per sq.ft (2024)
• PURUSHOTHAMAN NAGAR 1sT STREET: Rs 2,200 per sq.ft (2024)
• Raghupathy Street: Rs 2,160 per sq.ft (2024)
• P.T.C.Quarters: Rs 2,200 per sq.ft (2024)
• Postal Colony: Rs 2,420 per sq.ft (2024)
• Poonga Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Rabhin Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty, calculated at 7%, would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200. Together, the total cost for stamp duty and registration fee would be Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rabhin Nagar?

The Sub Registrar Office that covers Rabhin Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

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

Frequently asked questions

What is the current guideline value of Rabhin Nagar?

The current guideline value of Rabhin Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 300 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, with various increases and decreases in between.

What are the stamp duty and registration fees for property in Rabhin Nagar?

For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200, and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which Sub Registrar Office covers Rabhin Nagar?

The Pallavaram Sub Registrar Office covers Rabhin Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Rabhin Nagar?

Rabhin Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.