Guideline Value for Raisa Nagar

Raisa Nagar guideline value

The current guideline value of Raisa Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Somangalam village, under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Raisa Nagar has changed

Over the years, the guideline value of Raisa Nagar has seen several revisions. In the 2007 revision, the value was set at Rs 50 per sq.ft, which increased significantly to Rs 250 per sq.ft in the 2012 revision, marking a 400% rise. However, the 2017 revision saw a decrease to Rs 167 per sq.ft, a drop of 33%. The value remained at Rs 250 per sq.ft in the 2023 revision, and it has not changed in the 2024 revision, maintaining the same rate.

From 2017 to 2023, the guideline value increased by 50%, and overall, from 2007 to 2024, it has risen by 400%. The register does not provide figures for Raisa Nagar for the years 2002 and 2003.

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's 2024 figure is below this median.

• Raisa Nagar Annex: Rs 150 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

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total fees Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raisa Nagar?

The Sub Registrar Office that covers Raisa Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Somangalam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When you register a property, 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 Raisa Nagar?

The current guideline value of Raisa Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions: from Rs 50 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then to Rs 167 per sq.ft in 2017, and remaining at Rs 250 per sq.ft in 2023 and 2024.

What is the land classification for Raisa Nagar?

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

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

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

How are stamp duty and registration fees calculated in Raisa Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 250 per sq.ft would incur a total fee of Rs 22,500.