Guideline Value for Rajarajeswari Nagar

Rajarajeswari Nagar guideline value

The current guideline value of Rajarajeswari Nagar, located in Pozhichalur village under the Pammal SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Rajarajeswari Nagar has changed

The guideline value for Rajarajeswari Nagar has seen significant changes over the years. In the 2007 revision, the value was set at Rs 400 per sq.ft. This figure increased to Rs 804 per sq.ft in 2017, marking a 101% rise. The next revision in 2023 raised the value to Rs 1,200 per sq.ft, an increase of 49% from the previous revision. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which is equal to the current value for Rajarajeswari Nagar.

• Rajeswari Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Rajeswari Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Rajeswari Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Rajeswari Nagar Main Road: Rs 1,320 per sq.ft (2024)
• Rajaji Street(6): Rs 1,100 per sq.ft (2024)
• Rajaji Street(15): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarajeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. 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 detailed calculations.

Which Sub Registrar Office covers Rajarajeswari Nagar?

The Sub Registrar Office that covers Rajarajeswari Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, under the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately.

When buying or selling property, the guideline value helps both parties understand the fair value of the property, aiding in negotiations and ensuring compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Rajarajeswari Nagar?

The current guideline value of Rajarajeswari Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 1,320 per sq.ft in 2024, which is a total increase of 230% over the years.

What is the role of the Pammal SRO?

The Pammal Sub Registrar Office is responsible for the registration of property transactions in the area, ensuring compliance with local laws and regulations.

How is the stamp duty calculated for properties in Rajarajeswari Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400.

Are there other streets with the same guideline value in Pozhichalur?

Yes, there are several other streets in Pozhichalur with the same guideline value of Rs 1,320 per sq.ft for the year 2024, including Rajeswari Nagar 1st, 2nd, and 3rd Streets, as well as Rajeswari Nagar Main Road.