Guideline Value for Rajambal Nagar

Rajambal Nagar guideline value

The current guideline value of Rajambal Nagar, located in Madambakkam village under the Selaiyur SRO, is Rs 2,400 per sq.ft. This value is effective from 1 July 2024 and falls under the Commercial Class I Type - II land classification.

How the guideline value of Rajambal Nagar has changed

In the 2012 revision, the guideline value was set at Rs 2,200 per sq.ft. This figure decreased to Rs 1,474 per sq.ft in the 2017 revision, marking a decline of 33%. However, the latest revision in 2024 saw a significant increase to Rs 2,400 per sq.ft, which represents a rise of 63% from the 2017 figure.

Overall, comparing the 2012 and 2024 values, there has been a modest increase of 9%. It is important to note that the register has no figure for Rajambal Nagar for the years 2002, 2003, 2007, and 2023.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with the median value being Rs 2,400 per sq.ft. The guideline value for Rajambal Nagar is equal to this median.

• Rajambal Colony 4th Street: Rs 2,400 per sq.ft (2024)
• Rajambal Colony 3rd Street: Rs 2,400 per sq.ft (2024)
• Rajambal Colony 2nd Street: Rs 2,400 per sq.ft (2024)
• Rajambal Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Rajambal Colony 1st Street: Rs 2,400 per sq.ft (2024)
• Rajambal Nagar 1st Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rajambal Nagar

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, and the registration fee at 2% would be Rs 48,000, making the total cost Rs 2,16,000. 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 information.

Which Sub Registrar Office covers Rajambal Nagar?

The Sub Registrar Office covering Rajambal Nagar 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 more details.

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

The guideline value is an important factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is documented according to the prevailing rates set by the government. This ensures transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Rajambal Nagar?

The current guideline value of Rajambal Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the 2012 revision at Rs 2,200 per sq.ft, dropping to Rs 1,474 per sq.ft in 2017, and rising again to Rs 2,400 per sq.ft in 2024.

What is the land classification of Rajambal Nagar?

Rajambal Nagar falls under the Commercial Class I Type - II land classification.

Where can I find the Selaiyur Sub Registrar Office?

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 is stamp duty calculated in Rajambal Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a plot valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at 7%.