Guideline Value for Rajam Nagar

Rajam Nagar guideline value

The current guideline value of Rajam Nagar, located in S. Kullathur village, is Rs 2,750 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Rajam Nagar has changed

The guideline value of Rajam Nagar has seen several changes over the years. In 2003, the value was Rs 104 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2007. The value then surged to Rs 2,500 per sq.ft in 2012, before dropping to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, which was then revised to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, the guideline value has increased substantially from Rs 104 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, representing an overall change of 2544%. The revisions for the year 2002 do not have a figure for this street in the register.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the guideline value of Rajam Nagar.

• Rajam Nagar 1 To 5 Streets: Rs 2,750 per sq.ft (2024)
• RAJA Nagar: Rs 3,300 per sq.ft (2024)
• Raja Nagar 1 To 4 Streets: Rs 3,300 per sq.ft (2024)
• Raja Rajeshwari Nagar: Rs 2,750 per sq.ft (2024)
• Rajeev Nagar: Rs 3,300 per sq.ft (2024)
• Rajeswari Nagar 1 To 5 Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rajam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. 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 details.

Which Sub Registrar Office covers Rajam Nagar?

Rajam Nagar is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in S. Kullathur

The guideline value is a crucial factor in property transactions in S. Kullathur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value ensures that the government receives appropriate revenue from property transactions.

When selling property, the guideline value helps both buyers and sellers understand the minimum value that can be registered. It serves as a reference point for negotiations and ensures that property transactions are conducted transparently.

Frequently asked questions

What is the current guideline value of Rajam Nagar?

The current guideline value of Rajam Nagar is Rs 2,750 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 104 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2544% over this period.

What are the stamp duty rates for properties in Rajam Nagar?

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

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees for property transactions. It serves as a reference point for both buyers and sellers during negotiations and ensures transparency in the registration process.