Guideline Value for Rajan Nagar

Rajan Nagar guideline value

The current guideline value of Rajan Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Kuthanoor village and falls under the Gooduvancheri SRO, classified as Residential Class I Type - I.

How the guideline value of Rajan Nagar has changed

The guideline value for Rajan Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 110 per sq.ft. This increased significantly to Rs 550 per sq.ft in 2012, marking a substantial rise of 400%. However, the value then decreased to Rs 368 per sq.ft in 2017, which was a reduction of 33%. The most recent revisions in 2023 and 2024 both maintain the guideline value at Rs 550 per sq.ft, indicating no change from 2023 to 2024.

Between 2017 and 2023, there was a notable increase of 49%, bringing the value back up to Rs 550 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 400% from its initial rate.

Guideline values in Kuthanoor

Kuthanoor village has 30 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value in this village is Rs 800 per sq.ft, making Rajan Nagar's 2024 figure of Rs 550 per sq.ft below that median.

• Ramakrishna Avenue: Rs 1,120 per sq.ft (2024)
• Praney Square: Rs 600 per sq.ft (2024)
• Saradhambal Nagar: Rs 550 per sq.ft (2024)
• Sarvamangala Nagar: Rs 550 per sq.ft (2024)
• Senthil Nagar: Rs 800 per sq.ft (2024)
• Senthil Nagar Extn: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. 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 Rajan Nagar?

The Sub Registrar Office that covers Rajan Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kuthanoor. It serves as the basis for calculating the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that all transactions are in compliance with the regulations set forth by the Registration Department.

When a buyer or seller engages in a property transaction, the guideline value helps determine the official value of the property for registration purposes. This value is essential for both parties to understand their financial obligations related to the transaction.

Frequently asked questions

What is the current guideline value of Rajan Nagar?

The current guideline value of Rajan Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 110 per sq.ft in 2007 to Rs 550 per sq.ft in 2012, decreased to Rs 368 per sq.ft in 2017, and has remained at Rs 550 per sq.ft in both 2023 and 2024.

What is the median guideline value in Kuthanoor?

The median guideline value in Kuthanoor is Rs 800 per sq.ft, with Rajan Nagar's 2024 figure being below this median.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a plot valued at Rs 5,50,000, the total fees would amount to Rs 49,500.

Where is the Sub Registrar Office for Rajan Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.