Guideline Value for Raisa Nagar Annex

Raisa Nagar Annex guideline value

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

How the guideline value of Raisa Nagar Annex has changed

The guideline value for Raisa Nagar Annex has seen several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision marked a decrease to Rs 100 per sq.ft, a 33% drop from 2012. The most recent revision in 2024 has reinstated the value to Rs 150 per sq.ft, showing no change from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is 0%. The changes from 2017 to 2023 showed a significant increase of 50%, while the value remained stable from 2023 to 2024 with a change of 0%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. Raisa Nagar Annex's guideline value is below this median.

• Raisa Nagar: Rs 250 per sq.ft (2024)
• Ramachandra Nagar: Rs 350 per sq.ft (2024)
• Ponniamman Nagar Ph.I: Rs 200 per sq.ft (2024)
• Real Value Nagar: Rs 350 per sq.ft (2024)
• Real Value Nagar Phase III: Rs 350 per sq.ft (2024)
• Rkp Residency: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Raisa Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to 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. 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 more details.

Which Sub Registrar Office covers Raisa Nagar Annex?

The Raisa Nagar Annex area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are collected. This value is essential for both buyers and sellers to understand their financial obligations during the property transaction process.

Frequently asked questions

What is the current guideline value of Raisa Nagar Annex?

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

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 150 per sq.ft in 2024, unchanged from 2023. The value was Rs 100 per sq.ft in 2017, which was a decrease from Rs 150 per sq.ft in 2012.

What is the land classification for Raisa Nagar Annex?

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

What are the other streets in Somangalam and their guideline values?

Other streets in Somangalam include Raisa Nagar at Rs 250 per sq.ft, Ramachandra Nagar at Rs 350 per sq.ft, and Ponniamman Nagar Ph.I at Rs 200 per sq.ft, among others.

Where is the Sriperumpudur Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.