Guideline Value for Raisa Nagar

Raisa Nagar guideline value

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

How the guideline value of Raisa Nagar has changed

The guideline value for Raisa Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 167 per sq.ft, which remained unchanged at Rs 250 per sq.ft in the 2023 revision. The latest 2024 revision also maintains this figure at Rs 250 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

In terms of percentage changes, the guideline value increased by 50% from Rs 167 in 2017 to Rs 250 in 2023 and has remained steady at Rs 250 from 2023 to 2024, showing no change in this period. Overall, from 2017 to 2024, the increase is also 50%.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a guideline value for 2024 ranging from Rs 150 to Rs 2,500 per sq.ft. The median value is Rs 250 per sq.ft, which aligns with the guideline value of Raisa Nagar.

• 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)
• Pillaiyar koil street: Rs 400 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, bringing the total additional costs to Rs 22,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, 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 information.

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

The guideline value plays a crucial role during the registration process of property transactions in Somangalam_B. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property, which can impact the total cost of the transaction.

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 of Raisa Nagar changed over the years?

The guideline value has remained at Rs 250 per sq.ft since the 2023 revision, with a 50% increase from Rs 167 in 2017 to Rs 250 in 2023.

What is the land classification for Raisa Nagar?

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

Where is the Sub Registrar Office for Raisa Nagar located?

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 is stamp duty calculated for properties in Raisa Nagar?

Stamp duty for properties in Raisa Nagar is 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 incurs a total guideline value of Rs 2,50,000, leading to a stamp duty of Rs 17,500.