Guideline Value for Rajambal Nagar

Rajambal Nagar guideline value

The current guideline value of Rajambal Nagar, located in Mogalivakkam village under the Kunrathur SRO, is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Rajambal Nagar has changed

The guideline value for Rajambal Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,700 per sq.ft. This figure saw a decline in the 2017 revision, dropping to Rs 1,809 per sq.ft, which represented a decrease of 33%. However, the value significantly increased in the 2023 revision to Rs 2,700 per sq.ft, and further rose to Rs 2,970 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back to Rs 2,700 per sq.ft. Overall, when comparing the 2012 figure to the 2024 figure, there has been a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which is the same as the guideline value for Rajambal Nagar.

• Rajeswari Nagar Phase II: Rs 2,970 per sq.ft (2024)
• Ramakrishnapuram: Rs 3,520 per sq.ft (2024)
• Ramamoorthy Avenue / Extension: Rs 2,970 per sq.ft (2024)
• R.G.L. Colony Phase III: Rs 2,970 per sq.ft (2024)
• Perumal Koil Street: Rs 2,970 per sq.ft (2024)
• Sabari Nagar: Rs 2,970 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 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty, calculated at 7%, would be Rs 2,07,900, while the registration fee at 2% would be Rs 59,400, bringing the total fees together to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajambal Nagar?

The Sub Registrar Office that covers Rajambal Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

When buying or selling property in Mogalivakkam, the guideline value serves as a reference point for determining the stamp duty and registration fees. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Rajambal Nagar?

The current guideline value of Rajambal Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then back to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,970 per sq.ft in 2024.

What is the land classification for Rajambal Nagar?

Rajambal Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated in Rajambal Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,67,300.