Guideline Value for Raj Bhavan Nagar

Raj Bhavan Nagar guideline value

The current guideline value of Raj Bhavan Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Navaloor village under the Padappai Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Raj Bhavan Nagar has changed

The guideline value for Raj Bhavan Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in the 2017 revision, which was a drop of 33%. However, from 2017 to 2023, the guideline value increased significantly to Rs 400 per sq.ft, marking a 49% rise. The most recent revision in 2024 has set the value at Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Raj Bhavan Nagar for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Navaloor

In Navaloor, there are 26 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,000 per sq.ft, with a median value of Rs 550 per sq.ft. Raj Bhavan Nagar's 2024 figure is below this median.

• Prem Nagar: Rs 440 per sq.ft (2024)
• Sakthi Nagar: Rs 440 per sq.ft (2024)
• Sangath Thamizh Nagar: Rs 550 per sq.ft (2024)
• S.L Green City: Rs 770 per sq.ft (2024)
• S.L.S Nagar: Rs 550 per sq.ft (2024)
• Sree Varalakshmi Avenue: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Raj Bhavan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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 Raj Bhavan Nagar?

The Padappai Sub Registrar Office covers Raj Bhavan Nagar. The office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor when buying or selling property in Navaloor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Raj Bhavan Nagar?

The current guideline value of Raj Bhavan Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the registration office for Raj Bhavan Nagar?

The registration office for Raj Bhavan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Raj Bhavan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 4,40,000 would incur a stamp duty of Rs 30,800 at 7%.

What are the other streets in Navaloor with guideline values?

Other streets in Navaloor include Prem Nagar and Sakthi Nagar, both at Rs 440 per sq.ft, as well as Sangath Thamizh Nagar at Rs 550 per sq.ft, among others.