Guideline Value for Rajamanickam Nagar

Rajamanickam Nagar guideline value

The current guideline value of Rajamanickam Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Kilkattalai village under the Pallavaram SRO, classified as Commercial Class I Type - I.

How the guideline value of Rajamanickam Nagar has changed

The guideline value for Rajamanickam Nagar has seen several revisions over the years. Starting from Rs 317 per sq.ft in 2003, it increased to Rs 700 per sq.ft in 2007. The value then surged to Rs 5,000 per sq.ft in 2012, followed by a decrease to Rs 3,350 per sq.ft in 2017. The 2023 revision raised it to Rs 5,000 per sq.ft, and the latest 2024 revision has set the value at Rs 5,500 per sq.ft.

In terms of percentage changes, the guideline value increased by 121% from 2003 to 2007, followed by a remarkable increase of 614% from 2007 to 2012. However, it decreased by 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. The overall increase from 2003 to 2024 is 1635%. The register has no figure for this street for the year 2002.

Guideline values in Kilkattalai

Kilkattalai village has 194 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,530 per sq.ft, indicating that Rajamanickam Nagar's 2024 figure is above this median.

• Rajendra Nagar: Rs 5,500 per sq.ft (2024)
• Rajendra Nagar Extn: Rs 5,500 per sq.ft (2024)
• Rajendra Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Ragavan Street: Rs 2,200 per sq.ft (2024)
• Purusothaman Nagar 3rd Cross Street: Rs 2,160 per sq.ft (2024)
• Purusothaman Nagar 2nd Cross Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamanickam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. 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 Rajamanickam Nagar?

The Sub Registrar Office that covers Rajamanickam Nagar is 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 details.

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

The guideline value plays a crucial role in property transactions in Kilkattalai. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives appropriate revenue based on the established guideline values.

When selling property, the guideline value helps determine the minimum price at which a property can be registered. This means that sellers should be aware of the current guideline value to set realistic expectations for their property transactions.

Frequently asked questions

What is the current guideline value of Rajamanickam Nagar?

The current guideline value of Rajamanickam Nagar is Rs 5,500 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 317 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 1635% over this period.

What is the median guideline value in Kilkattalai?

The median guideline value in Kilkattalai village is Rs 2,530 per sq.ft, with Rajamanickam Nagar's 2024 figure being above this median.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 55,00,000 in Rajamanickam Nagar, the stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations for Rajamanickam Nagar?

The Pallavaram Sub Registrar Office is responsible for property registrations in Rajamanickam Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.