Guideline Value for Rajammal Nagar

Rajammal Nagar guideline value

The current guideline value of Rajammal Nagar, located in Ayappakkam village under the Ambattur SRO, is Rs 1,300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Rajammal Nagar has changed

The guideline value for Rajammal Nagar has seen several revisions over the years. In 2003, the value was Rs 110 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. By 2012, it had risen to Rs 1,200 per sq.ft, but then decreased to Rs 804 per sq.ft in 2017. The subsequent revision in 2023 saw it rise again to Rs 1,200 per sq.ft, and the latest revision in 2024 has set it at Rs 1,300 per sq.ft. Notably, the register has no figure for this street in 2002.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 8%. The value saw a remarkable increase of 200% from 2007 to 2012, and an even larger increase of 264% from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has risen by 1082%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median value is Rs 1,300 per sq.ft, which is equal to the current guideline value of Rajammal Nagar.

• Rajalakshmi Street(Rajammal nagar): Rs 1,300 per sq.ft (2024)
• Raghavan Salai(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Raghavan Cross Street(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Prasanthi Avenue: Rs 1,700 per sq.ft (2024)
• Ramathilagam Street(Santhosh nagar): Rs 1,100 per sq.ft (2024)
• Pound Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Rajammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total charges to Rs 1,17,000. It is important to note that the 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 more details.

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 Ayappakkam

The guideline value is a critical factor in the registration process of buying or selling property in Ayappakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajammal Nagar?

The current guideline value of Rajammal Nagar is Rs 1,300 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 110 per sq.ft in 2003 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 1082% over the years.

What is the land classification for Rajammal Nagar?

Rajammal Nagar is classified as Residential Class I Type - I, which is relevant for determining the guideline value.

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

For a property valued at Rs 1,300 per sq.ft, the total guideline value for a 1,000 sq.ft plot is Rs 13,00,000. The stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Rajammal Nagar located?

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