Guideline Value for Rajaji Nagar

Rajaji Nagar guideline value

The current guideline value of Rajaji Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Mannoor village, under the jurisdiction of the Sriperumpudur SRO, and is classified as Residential Special Type - II.

How the guideline value of Rajaji Nagar has changed

Over the years, the guideline value of Rajaji Nagar has undergone several revisions. In the 2007 revision, the value was set at Rs 100 per sq.ft. This increased significantly to Rs 500 per sq.ft in the 2012 revision, marking a 400% rise. However, in the 2017 revision, the value decreased to Rs 335 per sq.ft, which was a 33% drop from the previous figure. The 2023 revision maintained the value at Rs 500 per sq.ft, and this has remained unchanged in the 2024 revision, indicating a 0% change between these two years. The register has no figure for the years 2002 and 2003 for this street.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, comparing the 2007 revision to the current 2024 rate, the guideline value has increased by 400%. This consistent rise reflects the evolving landscape of Rajaji Nagar.

Guideline values in Mannoor

Mannoor village has a total of 56 streets under the Sriperumpudur SRO, with the 2024 guideline values ranging from Rs 100 to Rs 1,500 per sq.ft. The median value across these streets is Rs 250 per sq.ft, positioning Rajaji Nagar's 2024 figure above this median.

• Rajalakshmi Nagar: Rs 300 per sq.ft (2024)
• Ramji Street: Rs 250 per sq.ft (2024)
• Ram Nagar: Rs 300 per sq.ft (2024)
• Poonthottam Street: Rs 200 per sq.ft (2024)
• Polatchiyamman Koil Street: Rs 200 per sq.ft (2024)
• Perumal Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total cost for these fees to Rs 45,000. 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 Rajaji Nagar?

The Sub Registrar Office that covers Rajaji Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Mannoor. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is taken into account for calculating the stamp duty and registration fees, ensuring that the transaction is accurately reflected in official records.

Frequently asked questions

What is the current guideline value of Rajaji Nagar?

The current guideline value of Rajaji Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, notably from Rs 100 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, and it has remained at Rs 500 per sq.ft since 2023.

What are the other streets in Mannoor with their guideline values?

Other streets in Mannoor include Rajalakshmi Nagar at Rs 300 per sq.ft, Ramji Street at Rs 250 per sq.ft, and several others, with values ranging from Rs 200 to Rs 1,500 per sq.ft.

How is stamp duty calculated in Rajaji Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at the rate of 7%.

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

The Sub Registrar Office for Rajaji Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.