Guideline Value for Rajan Nagar

Rajan Nagar guideline value

The current guideline value of Rajan Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Nemili_B village under the Sriperumpudur SRO and is classified as Residential Class I Type - I.

How the guideline value of Rajan Nagar has changed

Over the years, the guideline value for Rajan Nagar has seen several revisions. The earliest recorded figure is from the 2017 revision, which was Rs 201 per sq.ft. This value remained unchanged in the 2023 revision, which also recorded Rs 300 per sq.ft. As of the 2024 revision, the guideline value remains at Rs 300 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%, bringing the value from Rs 201 per sq.ft to Rs 300 per sq.ft. Overall, from 2017 to 2024, the guideline value has increased by 49% as well, maintaining the current rate established in 2023.

Guideline values in Nemili_B

In Nemili_B, there are 97 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, positioning Rajan Nagar's 2024 figure above this median.

• Rajaji Street: Rs 150 per sq.ft (2024)
• Rajivgandhi Nagar: Rs 200 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 200 per sq.ft (2024)
• Ramanan Nagar: Rs 200 per sq.ft (2024)
• Pump Room Street: Rs 150 per sq.ft (2024)
• Prince Paradise (Prince Residencia): Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Rajan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, while the registration fee at 2% would be Rs 6,000. Together, the total fees would be Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajan Nagar?

The Sub Registrar Office that covers Rajan Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Nemili_B, the guideline value serves as a benchmark for determining the minimum value of the property for registration purposes. This value is essential for calculating the stamp duty and registration fees that need to be paid during the transaction.

The guideline value is used to ensure that the property is registered at a value that reflects the prevailing market conditions, thus preventing undervaluation. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Rajan Nagar?

The current guideline value of Rajan Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rajan Nagar has seen a 49% increase from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023 and 2024, with no change in the last two revisions.

What is the land classification of Rajan Nagar?

Rajan Nagar is classified as Residential Class I Type - I, indicating its designation for residential use.

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

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Rajan Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Rajan Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.