Guideline Value for Rajammal Nagar

Rajammal Nagar guideline value

The current guideline value of Rajammal Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Rajammal Nagar has changed

The guideline value of Rajammal Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the latest 2024 revision has further raised it to Rs 1,980 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the value rose by 49% from 2017 to 2023, and by 10% from 2023 to 2024. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Perungalathur

In Perungalathur village, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of Rajammal Nagar is below this median.

• Rajamanickam Theru: Rs 2,640 per sq.ft (2024)
• Raja Nagar: Rs 1,980 per sq.ft (2024)
• Raja Rajessari Nagar: Rs 2,640 per sq.ft (2024)
• Rajaji Street: Rs 2,640 per sq.ft (2024)
• Rajendra Prasad Theru: Rs 2,310 per sq.ft (2024)
• Rajeswari Avenue: Rs 1,980 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to avoid disputes and ensure compliance with local regulations 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 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Rajammal Nagar?

Rajammal Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Rajammal Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,38,600.