Guideline Value for Rajarathinam Nagar / Annexe

Rajarathinam Nagar / Annexe guideline value

The current guideline value for Rajarathinam Nagar / Annexe is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is located in Srinivasapuram village and falls under the Kunrathur SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Rajarathinam Nagar / Annexe has changed

The guideline value for Rajarathinam Nagar / Annexe has seen several revisions over the years. The earliest recorded figure is from 2003, with a guideline value of Rs 140 per sq.ft. This figure increased significantly to Rs 1,017 per sq.ft in 2007, marking a rise of 626%. In 2012, the value adjusted to Rs 1,800 per sq.ft, which was a decrease of 33%. The following revision in 2017 brought the guideline value to Rs 1,206 per sq.ft, and then it increased again to Rs 1,800 per sq.ft in 2023, before reaching the current value of Rs 2,000 per sq.ft in 2024, reflecting an increase of 11% from the previous year.

Overall, from the 2003 revision to the current 2024 revision, the guideline value has increased by 1,329%. There is no recorded figure for the year 2002 in the register for this street.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,550 to Rs 7,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Rajarathinam Nagar / Annexe above this median value.

• Ramachandra Nagar: Rs 1,750 per sq.ft (2024)
• Ragavendira Nagar: Rs 2,000 per sq.ft (2024)
• R.R.Nagar Annexe: Rs 1,550 per sq.ft (2024)
• Sai Rai Nagar: Rs 1,550 per sq.ft (2024)
• Perumal Koil Street: Rs 1,550 per sq.ft (2024)
• Sangamithra Avenue: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarathinam Nagar / Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total fees together to Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Rajarathinam Nagar / Annexe?

The Sub Registrar Office that covers Rajarathinam Nagar / Annexe is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Srinivasapuram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the correct amounts are paid to the authorities during the registration process.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This ensures transparency and fairness in property transactions, as it reflects the official valuation set by the government.

Frequently asked questions

What is the current guideline value of Rajarathinam Nagar / Annexe?

The current guideline value of Rajarathinam Nagar / Annexe is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 140 per sq.ft in 2003 to Rs 2,000 per sq.ft in 2024, marking an overall increase of 1,329%.

What are the stamp duty and registration fees for property in Rajarathinam Nagar / Annexe?

For a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000 and the registration fee would be Rs 40,000, totaling Rs 1,80,000.

Which Sub Registrar Office covers Rajarathinam Nagar / Annexe?

The Kunrathur Sub Registrar Office covers Rajarathinam Nagar / Annexe, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Rajarathinam Nagar / Annexe?

The land classification for Rajarathinam Nagar / Annexe is Residential Special Type - I.