Guideline Value for Raja nagar

Raja nagar guideline value

The current guideline value of Raja nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Raja nagar has changed

Over the years, the guideline value of Raja nagar has seen significant changes. In 2007, the guideline value was Rs 300 per sq.ft. This figure increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, and most recently, it has risen to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 633%, illustrating the substantial changes in property valuation over the years.

Guideline values in Poonthamallee

Poonthamallee village has 257 streets under the Poonamallee SRO, with guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Raja nagar. Below are the guideline values for other streets in Poonthamallee:

• Rajarathinam salai: Rs 2,200 per sq.ft (2024)
• Raja Agraharam street: Rs 2,740 per sq.ft (2024)
• Queen victoria road: Rs 2,200 per sq.ft (2024)
• Ramanujam koodam street: Rs 2,740 per sq.ft (2024)
• Poovai devadas nagar: Rs 2,200 per sq.ft (2024)
• Ponniamman Nagar Cross Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Poonthamallee. It determines the minimum value at which a property can be registered, ensuring that transactions reflect the prevailing market conditions. Buyers and sellers must be aware of this value as it influences the overall cost of property transactions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are paying the appropriate fees based on the established guidelines set by the Registration Department.

Frequently asked questions

What is the current guideline value of Raja nagar?

The current guideline value of Raja nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 633% over this period.

What is the stamp duty rate for property in Raja nagar?

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

Where is the Poonamallee Sub Registrar Office located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the land classification for Raja nagar?

Raja nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.