Guideline Value for Rajaram Colony

Rajaram Colony guideline value

The current guideline value of Rajaram Colony, located in Menambedu village under the Ambattur SRO, is Rs 1,001 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Rajaram Colony has changed

In the 2012 revision, the guideline value was set at Rs 800 per sq.ft. This figure increased to Rs 536 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to the 2023 revision, the value rose significantly to Rs 1,000 per sq.ft, reflecting an increase of 87%. The most recent revision in 2024 has set the guideline value at Rs 1,001 per sq.ft, showing no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 25%.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value in this area is Rs 1,003 per sq.ft, placing the 2024 guideline value of Rajaram Colony below this median.

• Raja Rajeswari Nagar: Rs 1,002 per sq.ft (2024)
• Rajamanickam Street: Rs 1,700 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,300 per sq.ft (2024)
• Ramadas Street: Rs 1,300 per sq.ft (2024)
• Ramakrishna Nagar: Rs 1,002 per sq.ft (2024)
• Ramakrishnan Avenue: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaram Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, while the registration fee at 2% would be Rs 20,020. Together, the total cost for stamp duty and registration fee would be Rs 90,090. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajaram Colony?

The Sub Registrar Office that covers Rajaram Colony 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 Menambedu

The guideline value is a crucial factor in the registration process when buying or selling property in Menambedu. It serves as a benchmark for calculating the stamp duty and registration fees that are payable during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajaram Colony?

The current guideline value of Rajaram Colony is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 1,001 per sq.ft in 2024, reflecting an overall increase of 25% over this period.

What is the land classification of Rajaram Colony?

Rajaram Colony is classified under Residential Class IV Type - I land classification.

Where can I find the Sub Registrar Office for Rajaram Colony?

The Sub Registrar Office for Rajaram Colony is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated in Rajaram Colony?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 10,01,000, the total stamp duty and registration fees would be Rs 90,090.