Guideline Value for Raja Rajeswari Nagar

Raja Rajeswari Nagar guideline value

The current guideline value of Raja Rajeswari Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is located in Menambedu village, under the Ambattur SRO, and is classified as Residential Class V Type - I.

How the guideline value of Raja Rajeswari Nagar has changed

The guideline value for Raja Rajeswari Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 700 per sq.ft, which increased to Rs 469 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,002 per sq.ft as per the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a remarkable increase of 113% from 2017 to 2023. Overall, the guideline value has increased by 43% from 2012 to 2024, reflecting the changes in the property market over the years.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Raja Rajeswari Nagar is slightly below this median.

• Rajaram Colony: Rs 1,001 per sq.ft (2024)
• Rajamanickam Street: Rs 1,700 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,300 per sq.ft (2024)
• Ramadas Street: Rs 1,300 per sq.ft (2024)
• Ramakrishna Nagar: Rs 1,002 per sq.ft (2024)
• Ramakrishnan Avenue: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Rajeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, and the registration fee at 2% would be Rs 20,040, making the total cost for these fees Rs 90,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Raja Rajeswari Nagar?

The Raja Rajeswari Nagar area falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Menambedu, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction process.

When a property is sold, the sale price must be compared with the guideline value. The higher of the two is used to calculate the applicable fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Raja Rajeswari Nagar?

The current guideline value of Raja Rajeswari Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 700 per sq.ft in 2012 to Rs 1,002 per sq.ft in 2024, with significant fluctuations in between.

What are the stamp duty rates for property in Raja Rajeswari Nagar?

The stamp duty for property in Raja Rajeswari Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for Raja Rajeswari Nagar?

The Ambattur Sub Registrar Office covers Raja Rajeswari Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the median guideline value in Menambedu?

The median guideline value in Menambedu is Rs 1,003 per sq.ft, with Raja Rajeswari Nagar's value being slightly below this figure.