Guideline Value for Raj Nagar

Raj Nagar guideline value

The current guideline value of Raj Nagar, located in Soorapattu village under the Ambattur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Raj Nagar has changed

Over the years, the guideline value of Raj Nagar has seen several revisions. The earliest available revision is from 2012, where the value was Rs 1,600 per sq.ft. This was followed by a decrease to Rs 1,072 per sq.ft in 2017. In 2023, the value increased to Rs 1,600 per sq.ft, and the most recent revision in 2024 set it at Rs 1,700 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, it saw a significant increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 indicates a modest increase of 6% in the guideline value.

Guideline values in Soorapattu

In Soorapattu, there are 115 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 5,100 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, placing Raj Nagar's 2024 figure above this median.

• Rajiv Gandhi Street: Rs 1,100 per sq.ft (2024)
• Ratchagan Street: Rs 1,100 per sq.ft (2024)
• Royal city: Rs 1,400 per sq.ft (2024)
• Royal Star: Rs 2,201 per sq.ft (2024)
• Samuga Koodam Street: Rs 1,200 per sq.ft (2024)
• Pillaiyar Koil Street (sanmugapuram 2nd Ward): Rs 1,300 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 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty, charged at 7%, would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, these fees total Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raj Nagar?

The Sub Registrar Office that covers 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 Soorapattu

The guideline value is a critical factor when registering property in Soorapattu. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of real estate. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration requirements.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Raj Nagar?

The current guideline value of Raj Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Raj Nagar?

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

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

For a property with a guideline value of Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Raj Nagar?

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