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. This property is located in Somangalam_B village under the Sriperumpudur SRO, 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 remained consistent at Rs 150 per sq.ft for both the 2023 and 2024 revisions. Prior to this, in the 2017 revision, the guideline value was Rs 100 per sq.ft, reflecting a 50% increase over the six-year period from 2017 to 2023.

There are no registered figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, comparing the 2017 and 2024 revisions, the guideline value has increased by 50% from Rs 100 per sq.ft to Rs 150 per sq.ft.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value of Raisa Nagar Annex 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)
• Pillaiyar koil street: Rs 400 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, bringing the total fees to Rs 13,500. 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 Raisa Nagar Annex?

The Sub Registrar Office that covers Raisa Nagar Annex is 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_B

The guideline value is a critical factor in the registration process when buying or selling property in Somangalam_B. It determines the stamp duty and registration fees that must be paid, ensuring that all transactions comply with local regulations.

When a property is sold, the guideline value serves as a benchmark for assessing the transaction's legitimacy. Buyers and sellers must be aware of these values to avoid discrepancies during the registration 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 remained at Rs 150 per sq.ft from 2023 to 2024, while it increased from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023, marking a 50% increase over that period.

What is the land classification of Raisa Nagar Annex?

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

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 13,500.

Where can I find the Sub Registrar Office for Raisa Nagar Annex?

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