Guideline Value for Raja Rajessari Nagar

Raja Rajessari Nagar guideline value

The current guideline value of Raja Rajessari Nagar is Rs 2,640 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Raja Rajessari Nagar has changed

The guideline value for Raja Rajessari Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 250 per sq.ft, which then increased significantly to Rs 2,400 per sq.ft in 2012, marking an increase of 860%. However, from 2012 to 2017, the value decreased to Rs 1,608 per sq.ft, reflecting a drop of 33%. The subsequent revisions saw the value rise again, with the 2017 figure at Rs 1,608 per sq.ft increasing to Rs 2,400 per sq.ft in 2023, a change of 49%. The latest revision in 2024 has set the guideline value at Rs 2,640 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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 guideline value is Rs 2,310 per sq.ft, making the current value of Raja Rajessari Nagar above this median.

• Raja Nagar: Rs 1,980 per sq.ft (2024)
• Rajammal Nagar: Rs 1,980 per sq.ft (2024)
• Rajamanickam Theru: 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 Rajessari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, making the total fees together Rs 2,37,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raja Rajessari Nagar?

The Sub Registrar Office that covers Raja Rajessari 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 is a crucial factor in property transactions in Perungalathur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Raja Rajessari Nagar?

The current guideline value of Raja Rajessari Nagar is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, reflecting a total increase of 956% over the years.

What is the stamp duty rate for properties in Raja Rajessari Nagar?

The stamp duty rate for properties in Raja Rajessari Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Padappai Sub Registrar Office located?

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

What are the other streets in Perungalathur with guideline values?

Other streets in Perungalathur include Raja Nagar and Rajammal Nagar at Rs 1,980 per sq.ft, Rajamanickam Theru and Rajaji Street at Rs 2,640 per sq.ft, Rajendra Prasad Theru at Rs 2,310 per sq.ft, and Rajeswari Avenue at Rs 1,980 per sq.ft.