Guideline Value for Raja Garden

Raja Garden guideline value

The current guideline value of Raja Garden is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is located in 1. Nolambur village under the Villivakkam SRO, classified as Residential Special Type - I.

How the guideline value of Raja Garden has changed

The guideline value for Raja Garden has undergone several revisions over the years. The 2017 revision set the value at Rs 4,355 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in the 2023 revision. The latest revision in 2024 saw another increase to Rs 7,100 per sq.ft, marking a change of 9% from the previous year and a total increase of 63% from the 2017 figure.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The overall change from the 2017 revision to the 2024 revision reflects a substantial rise in the guideline value.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft, which is equal to the guideline value for Raja Garden.

• Perumal Koil Street: Rs 3,700 per sq.ft (2024)
• Periyanolambur: Rs 3,300 per sq.ft (2024)
• Patchaiappan Nagar: Rs 7,100 per sq.ft (2024)
• Parkrest Apartments: Rs 7,100 per sq.ft (2024)
• SAKTHI NAGAR IIIrd AVENUE: Rs 4,355 per sq.ft (2024)
• Sakthi Nagar & Streets: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raja Garden?

The Sub Registrar Office that covers Raja Garden is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial aspect when buying or selling property in 1. Nolambur, as it determines the minimum price at which property transactions can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction. This process helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Raja Garden?

The current guideline value of Raja Garden is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 4,355 per sq.ft in 2017 to Rs 7,100 per sq.ft in 2024, reflecting a total increase of 63% over this period.

What are the stamp duty and registration fees for properties in Raja Garden?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office covers Raja Garden?

The Villivakkam Sub Registrar Office covers Raja Garden, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Raja Garden?

Raja Garden is classified as Residential Special Type - I, indicating its suitability for residential development.