Guideline Value for Raja Nagar Lay out

Raja Nagar Lay out guideline value

The current guideline value of Raja Nagar Lay out is Rs 1,320 per sq.ft, effective from 1 July 2024. This property is located in Tambaram village, under the Tambaram Joint 1 SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Raja Nagar Lay out has changed

The guideline value for Raja Nagar Lay out has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until 2017, when it decreased to Rs 804 per sq.ft. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value saw a substantial increase of 49%. The recent revision from 2023 to 2024 reflects a 10% increase, bringing the overall change from 2012 to 2024 to a 10% increase.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making the current value of Raja Nagar Lay out below that median.

• Rajammal Avenue: Rs 2,200 per sq.ft (2024)
• Rajarathinam Street: Rs 2,200 per sq.ft (2024)
• Rajaji Street 3rd Land: Rs 4,400 per sq.ft (2024)
• Rajaji Street 2nd Lane: Rs 4,400 per sq.ft (2024)
• Rajaji Street 1st Lane: Rs 4,400 per sq.ft (2024)
• Rajaji Road/Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Nagar Lay out

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Raja Nagar Lay out?

The Sub Registrar Office that covers Raja Nagar Lay out is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Raja Nagar Lay out?

The current guideline value of Raja Nagar Lay out is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Raja Nagar Lay out?

Raja Nagar Lay out falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for Raja Nagar Lay out?

The Sub Registrar Office for Raja Nagar Lay out is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,320 per sq.ft, the total fees would amount to Rs 1,18,800.