Guideline Value for Rahman Nagar

Rahman Nagar guideline value

The current guideline value of Rahman Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Selavoyal village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rahman Nagar has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure then decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision, followed by another rise to Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Rahman Nagar is above this median.

• Radhakrishnan Nagar: Rs 2,200 per sq.ft (2024)
• Prakasam Avenue: Rs 2,200 per sq.ft (2024)
• Perumal Koil Street: Rs 1,900 per sq.ft (2024)
• R.V. Nagar: Rs 2,200 per sq.ft (2024)
• Pathragiri Nagar Extension: Rs 1,900 per sq.ft (2024)
• Pathragiri Nagar: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rahman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Rahman Nagar?

The Sub Registrar Office that covers Rahman Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a critical factor when buying or selling property in Selavoyal, 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 transaction.

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 Rahman Nagar?

The current guideline value of Rahman Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Rahman Nagar?

Rahman Nagar is classified as Residential Class I Type - I, indicating its designation for residential use.

What is the stamp duty rate for properties in Rahman Nagar?

The stamp duty rate for properties in Rahman Nagar is 7%, which is applied to the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it handles registrations for properties in Rahman Nagar.