Guideline Value for Raj Nagar

Raj Nagar guideline value

The current guideline value of Raj Nagar, located in Pothur village under the Redhills SRO, is Rs 1,480 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - IV.

How the guideline value of Raj Nagar has changed

The guideline value of Raj Nagar has seen significant changes over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, there was a decrease to Rs 335 per sq.ft in 2017. The value then surged to Rs 1,345 per sq.ft in 2023, marking a substantial increase of 301% from the 2017 figure. The most recent revision in 2024 raised the guideline value to Rs 1,480 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 393%.

Guideline values in Pothur

In Pothur, there are 98 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 2,000 per sq.ft. The median value for these streets is Rs 550 per sq.ft, placing Raj Nagar's 2024 figure above this median.

• Raja Yoga Ganapathy Nagar: Rs 550 per sq.ft (2024)
• R.G. Nagar Annex-I: Rs 440 per sq.ft (2024)
• Roja Nagar: Rs 365 per sq.ft (2024)
• Priya Nagar: Rs 550 per sq.ft (2024)
• Pothigai Nagar Extention: Rs 550 per sq.ft (2024)
• Pothigai Nagar: Rs 550 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 1,480 per sq.ft, the total guideline value amounts to Rs 14,80,000. The stamp duty at 7% would be Rs 1,03,600, and the registration fee at 2% would be Rs 29,600, bringing the total to Rs 1,33,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Raj Nagar?

The Sub Registrar Office that covers Raj Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pothur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the registration fee and stamp duty 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 Raj Nagar?

The current guideline value of Raj Nagar is Rs 1,480 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 1,480 per sq.ft in 2024, showing a total increase of 393% over this period.

What is the registration office for Raj Nagar?

The registration office for Raj Nagar is the Redhills Sub Registrar Office, located on Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

For a property valued at Rs 14,80,000 in Raj Nagar, the stamp duty would be Rs 1,03,600 and the registration fee would be Rs 29,600, totaling Rs 1,33,200.

How does the guideline value affect property transactions?

The guideline value determines the minimum price for property registration and is used to calculate stamp duty and registration fees. It ensures that property transactions comply with local regulations.