Guideline Value for Raja Nagar

Raja Nagar guideline value

The current guideline value of Raja Nagar, located in Perungalathur village under the Padappai SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Raja Nagar has changed

The guideline value for Raja Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking an increase of 800%. However, from 2012 to 2017, the value decreased to Rs 1,206 per sq.ft, a drop of 33%. The value then rose sharply to Rs 1,800 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for Raja Nagar for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 890%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, placing Raja Nagar's 2024 figure below that median.

• Rajammal Nagar: Rs 1,980 per sq.ft (2024)
• Rajamanickam Theru: Rs 2,640 per sq.ft (2024)
• Raja Rajessari Nagar: Rs 2,640 per sq.ft (2024)
• Rajaji Street: Rs 2,640 per sq.ft (2024)
• Rajendra Prasad Theru: Rs 2,310 per sq.ft (2024)
• Rajeswari Avenue: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty, charged at 7%, would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration would be Rs 1,78,200. 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?

The Sub Registrar Office that covers Raja Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is registered, the guideline value is used to ensure that the transaction is recorded accurately in accordance with government regulations. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Raja Nagar?

The current guideline value of Raja Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890% over the years.

What is the land classification for Raja Nagar?

Raja Nagar falls under the Residential Class III Type - I land classification.

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

The Sub Registrar Office for Raja Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Raja Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 at a rate of 7%.