Guideline Value for Rajammal Nagar

Rajammal Nagar guideline value

The current guideline value of Rajammal Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Oragadam village and falls under the Ambattur SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Rajammal Nagar has changed

The guideline value for Rajammal Nagar has undergone several revisions over the years. The earliest recorded value in 2002 was Rs 88 per sq.ft, which increased to Rs 110 per sq.ft in 2003. Following this, a significant rise occurred, with the value reaching Rs 300 per sq.ft in 2007. The value then saw a dramatic increase to Rs 1,500 per sq.ft in 2012, but it dropped to Rs 1,005 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,500 per sq.ft in 2023 and a further rise to Rs 1,600 per sq.ft in 2024.

Between the revisions, notable changes include a 400% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 7% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,718%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Rajammal Nagar's 2024 figure is below this median.

• Raja mangalam Street: Rs 1,600 per sq.ft (2024)
• Rajarajan Street: Rs 2,400 per sq.ft (2024)
• Rajaji Street(V.L.Puram): Rs 2,400 per sq.ft (2024)
• Rajaji Street (Vinayapuram): Rs 2,400 per sq.ft (2024)
• Rajaji Street(Gandhi Nagar): Rs 1,900 per sq.ft (2024)
• Rajarao Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rajammal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that 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 further assistance.

Which Sub Registrar Office covers Rajammal Nagar?

The Sub Registrar Office that covers Rajammal Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it influences the overall cost of the transaction. The registration process requires that the property be registered at the guideline value or the sale price, whichever is higher, to comply with legal requirements.

Frequently asked questions

What is the current guideline value of Rajammal Nagar?

The current guideline value of Rajammal Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 88 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 1,718%.

What are the stamp duty and registration fees for property in Rajammal Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers Rajammal Nagar?

The Ambattur Sub Registrar Office covers Rajammal Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Rajammal Nagar?

The land classification for Rajammal Nagar is Residential Class II Type - I.