Guideline Value for Raja Rajeswari Nagar

Raja Rajeswari Nagar guideline value

The current guideline value of Raja Rajeswari Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Raja Rajeswari Nagar has changed

Over the years, the guideline value of Raja Rajeswari Nagar has seen significant changes. Starting from Rs 276 per sq.ft in 2002, it increased to Rs 300 per sq.ft in 2003, marking a 9% rise. The value then surged dramatically to Rs 900 per sq.ft in 2007, reflecting a 200% increase. By 2012, the guideline value was Rs 2,500 per sq.ft, which represented a decrease of 33% from the previous revision. In 2017, the value rose again to Rs 1,675 per sq.ft, an increase of 49% from 2012. The guideline value further increased to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,700 per sq.ft in 2024, which is an 8% rise.

The overall change from 2002 to 2024 shows an increase of 878%, highlighting the substantial growth in the guideline value over the years.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Raja Rajeswari Nagar's 2024 figure below that median.

• Raja Rajashwari Nagar Extension: Rs 2,200 per sq.ft (2024)
• Rajan Nagar Thiyagi Palanisamy Street: Rs 4,400 per sq.ft (2024)
• Rajan Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Rajan Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Rajan Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Rajan Nagar 1st Street: Rs 4,400 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. 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 more detailed calculations.

Which Sub Registrar Office covers Raja Rajeswari Nagar?

The Sub Registrar Office that covers Raja Rajeswari Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kolathur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees payable at the time of registration. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Raja Rajeswari Nagar?

The current guideline value of Raja Rajeswari Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 276 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, which is an overall increase of 878%.

What are the stamp duty and registration fees in Raja Rajeswari Nagar?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations for Raja Rajeswari Nagar?

The Sembiam Sub Registrar Office handles property registrations for Raja Rajeswari Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value determined for property transactions?

The guideline value is determined by the government and is used to calculate stamp duty and registration fees during property transactions. It is subject to periodic revisions based on market conditions and local regulations.