Guideline Value for Rajambal Nagar Phase II

Rajambal Nagar Phase II guideline value

The current guideline value of Rajambal Nagar Phase II is Rs 2,400 per sq.ft. This area is located in Madambakkam village under the Selaiyur SRO, classified as Commercial Class I Type - II.

How the guideline value of Rajambal Nagar Phase II has changed

Over the years, the guideline value of Rajambal Nagar Phase II has seen several revisions. The oldest available revision is from 2012, where the guideline value was Rs 2,200 per sq.ft. The most recent revision in 2024 set the value at Rs 2,400 per sq.ft, reflecting an increase of 9% from the 2012 figure.

There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street. Therefore, the only revisions that show a guideline value are from 2012 and 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which matches the current value for Rajambal Nagar Phase II.

• Rajambal Nagar Phase1: Rs 2,400 per sq.ft (2024)
• Rajambal Nagar Phase III Ext: Rs 2,400 per sq.ft (2024)
• Rajambal Nagar Main Road: Rs 2,400 per sq.ft (2024)
• Rajambal South Avenue: Rs 2,400 per sq.ft (2024)
• Rajambal Nagar Main 2nd Road: Rs 2,400 per sq.ft (2024)
• Rajambal Nagar Main 1st Road: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rajambal Nagar Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000, making the total Rs 2,16,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajambal Nagar Phase II?

The Sub Registrar Office that covers Rajambal Nagar Phase II is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is an essential factor during the registration of property transactions in Madambakkam. It determines the minimum value at which a property can be registered, ensuring that both the buyer and seller are aware of the official valuation.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate fees based on the property's value.

Frequently asked questions

What is the current guideline value of Rajambal Nagar Phase II?

The current guideline value of Rajambal Nagar Phase II is Rs 2,400 per sq.ft as of the 2024 revision.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,200 per sq.ft in 2012 to Rs 2,400 per sq.ft in 2024, representing a 9% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the land classification for Rajambal Nagar Phase II?

Rajambal Nagar Phase II is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% and the registration fee at 2% based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 2,16,000 in fees.