Guideline Value for Rahamath Nagar

Rahamath Nagar guideline value

The current guideline value of Rahamath Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Malayambakkam village under the Kunrathur SRO, classified as Residential Class I Type - II.

How the guideline value of Rahamath Nagar has changed

The guideline value for Rahamath Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft, which decreased to Rs 402 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 800 per sq.ft in 2023, and it has now been revised to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, there was a notable increase of 99%. Overall, from 2012 to 2024, the guideline value has increased by 47%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Malayambakkam

In Malayambakkam, a total of 82 streets are under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 450 to Rs 2,750 per sq.ft. The median value for the area is Rs 935 per sq.ft, placing Rahamath Nagar's 2024 figure below this median.

• Ramachandra Nagar: Rs 1,210 per sq.ft (2024)
• Pilliyar koil Street: Rs 880 per sq.ft (2024)
• Ram Nagar: Rs 1,210 per sq.ft (2024)
• Royal City: Rs 1,800 per sq.ft (2024)
• Pattammal Nagar: Rs 2,200 per sq.ft (2024)
• Sagunthala Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rahamath Nagar

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the 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 Rahamath Nagar?

The Sub Registrar Office that covers Rahamath Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Malayambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the transaction is properly recorded and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Rahamath Nagar?

The current guideline value of Rahamath Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 880 per sq.ft in 2024, with various increases and a decrease noted in between.

What is the land classification of Rahamath Nagar?

Rahamath Nagar is classified as Residential Class I Type - II under the Kunrathur SRO.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Rahamath Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Rahamath Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.