Guideline Value for Raja Nagar Extension

Raja Nagar Extension guideline value

The current guideline value of Raja Nagar Extension is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Raja Nagar Extension has changed

In the 2017 revision, the guideline value was set at Rs 1,340 per sq.ft. The current 2024 revision shows a significant increase to Rs 2,200 per sq.ft, marking a change of +64%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions available for Raja Nagar Extension are from 2017 to 2024. The previous figures from 2017 reflect a lower valuation, while the current figure indicates a substantial rise in the guideline value per sq.ft.

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. The median value for these streets is Rs 1,600 per sq.ft, placing Raja Nagar Extension's 2024 figure above that median.

• Raja Nagar Road ( Ward No.1 ): Rs 2,200 per sq.ft (2024)
• Raja Nagar (Ward-01): Rs 2,200 per sq.ft (2024)
• Raja Nagar: Rs 1,600 per sq.ft (2024)
• Rajan Nagar 1st Street ( Ward No.29 ): 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 Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raja Nagar Extension?

The Raja Nagar Extension area falls under 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 crucial when buying or selling property, as it determines the amount of stamp duty and registration fees payable during the transaction. Buyers and sellers must refer to the current guideline value to ensure compliance with the legal requirements set forth by the registration department.

Additionally, the guideline value serves as a benchmark for property transactions, helping to establish a fair price for both parties involved. It is essential to be aware of the latest revisions to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Raja Nagar Extension?

The current guideline value of Raja Nagar Extension is Rs 2,200 per sq.ft, effective from 1 July 2024.

What was the guideline value in 2017?

In 2017, the guideline value for Raja Nagar Extension was Rs 1,340 per sq.ft.

How much has the guideline value changed from 2017 to 2024?

The guideline value has increased by 64%, from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024.

What are the registration fees for property in Raja Nagar Extension?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 at 7%, and the registration fee is Rs 44,000 at 2%, totaling Rs 1,98,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.