Guideline Value for Raja Nagar (Ward-01)

Raja Nagar (Ward-01) guideline value

The current guideline value for Raja Nagar (Ward-01) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Raja Nagar (Ward-01) has changed

The guideline value for Raja Nagar (Ward-01) has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which marks a significant increase from Rs 1,340 per sq.ft in the 2017 revision, representing a change of +64%. Notably, there are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2017 revision, the guideline value for Raja Nagar (Ward-01) was not specified in the register. The increase from 2017 to 2024 indicates a notable adjustment in the guideline value, reflecting changes in the property landscape within the area.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median of Rs 1,600 per sq.ft. The guideline value for Raja Nagar (Ward-01) at Rs 2,200 per sq.ft is above this median.

• Raja Nagar Road ( Ward No.1 ): Rs 2,200 per sq.ft (2024)
• Raja Nagar Extension: Rs 2,200 per sq.ft (2024)
• Rajan Nagar 1st Street ( Ward No.29 ): Rs 1,600 per sq.ft (2024)
• Raja Nagar: Rs 1,600 per sq.ft (2024)
• Rajan Nagar 2nd Street ( Ward No.29 ): Rs 1,600 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Nagar (Ward-01)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Nagar (Ward-01)?

The Sub Registrar Office that covers Raja Nagar (Ward-01) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Madhavaram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is legally compliant.

Frequently asked questions

What is the current guideline value for Raja Nagar (Ward-01)?

The current guideline value for Raja Nagar (Ward-01) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an increase of +64%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What is the classification of land in Raja Nagar (Ward-01)?

Raja Nagar (Ward-01) is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Raja Nagar (Ward-01)?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. The duty is charged on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Raja Nagar (Ward-01)?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Raja Nagar (Ward-01). You can find more information about your SRO online.