Guideline Value for Raj Nagar

Raj Nagar guideline value

The current guideline value of Raj Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Raj Nagar has changed

The guideline value for Raj Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, which is an increase from Rs 1,500 per sq.ft in 2023, marking a change of +7%. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, indicating a significant increase of +49% to the 2023 figure. The 2012 revision also recorded a value of Rs 1,500 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +7%.

It is important to note that the register has no figures for Raj Nagar for the years 2002, 2003, and 2007. The 2012 revision was the first recorded value for this street.

Guideline values in Puthagaram

Puthagaram village has a range of guideline values across its 140 streets under the Ambattur SRO, with the 2024 figures varying from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value in this area is Rs 1,900 per sq.ft, placing Raj Nagar's current value below this median.

• Ramalinga Nagar: Rs 1,900 per sq.ft (2024)
• Ramalinga Nagar extension: Rs 1,600 per sq.ft (2024)
• Rajammal Nager: Rs 1,900 per sq.ft (2024)
• Ranganathar Nagar: Rs 1,900 per sq.ft (2024)
• Ragavendra avenue: Rs 1,600 per sq.ft (2024)
• Ragavan Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Raj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total charges to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Raj Nagar?

The Sub Registrar Office covering Raj Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puthagaram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the property’s assessed value.

Frequently asked questions

What is the current guideline value of Raj Nagar?

The current guideline value of Raj Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification of Raj Nagar?

Raj Nagar falls under the Residential Class II Type - I land classification.

What are the stamp duty and registration fees for properties in Raj Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles registrations for Raj Nagar?

The Ambattur Sub Registrar Office handles registrations for Raj Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.