Guideline Value for RajaRajan Nagar

RajaRajan Nagar guideline value

The current guideline value of RajaRajan Nagar in Moulivakkam village, under the Kunrathur SRO, is Rs 2,450 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of RajaRajan Nagar has changed

The guideline value of RajaRajan Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 125 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The value then rose dramatically to Rs 2,200 per sq.ft in 2012, before dropping to Rs 1,474 per sq.ft in 2017. The value increased again to Rs 2,200 per sq.ft in 2023, and currently stands at Rs 2,450 per sq.ft in 2024. The register has no figure for this street in 2002.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, it rose by 11%. The most notable increase occurred from 2007 to 2012, where the value surged by 340%. Overall, from 2003 to 2024, the guideline value has increased by 1860%.

Guideline values in Moulivakkam

Moulivakkam has 44 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,000 to Rs 3,900 per sq.ft, with the median being Rs 2,450 per sq.ft. RajaRajan Nagar's 2024 figure aligns with this median.

• RajaRajan Nagar Extension: Rs 2,450 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 2,450 per sq.ft (2024)
• Rajagopal Avenue: Rs 2,450 per sq.ft (2024)
• Rajagopalapuram Avenue: Rs 2,650 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,450 per sq.ft (2024)
• Porur - Kundrathur Road: Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in RajaRajan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,450 per sq.ft, the total guideline value would be Rs 24,50,000. The stamp duty at 7% would amount to Rs 1,71,500, and the registration fee at 2% would be Rs 49,000, bringing the total to Rs 2,20,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers RajaRajan Nagar?

The RajaRajan Nagar area is covered by the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Moulivakkam. It serves as a basis for calculating the stamp duty and registration fees, ensuring that these charges are aligned with government regulations.

When a property transaction occurs, the guideline value is assessed to determine the applicable fees. Buyers and sellers must be aware that the charges will be based on the higher of the guideline value or the sale price, which is essential for accurate financial planning during the transaction.

Frequently asked questions

What is the current guideline value of RajaRajan Nagar?

The current guideline value of RajaRajan Nagar is Rs 2,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 125 per sq.ft in 2003 to Rs 2,450 per sq.ft in 2024, with various revisions in between.

What is the land classification for RajaRajan Nagar?

The land classification for RajaRajan Nagar is Residential Special Type - I.

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

The Kunrathur Sub Registrar Office covers RajaRajan Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated in RajaRajan Nagar?

Stamp duty in RajaRajan Nagar is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.