Guideline Value for Rajarathinam Nagar 1st Street

Rajarathinam Nagar 1st Street guideline value

The current guideline value of Rajarathinam Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Rajarathinam Nagar 1st Street has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This figure remained unchanged in the 2023 revision. However, with the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a 10% increase from the previous year. The overall change from 2012 to 2024 reflects a 10% increase.

The register has no figures for the years 2002, 2003, 2007, and 2017 for this street. Therefore, the only revisions available are from 2012, 2023, and 2024.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Rajarathinam Nagar 1st Street is below this median.

• Rajarathinam Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 3rd Main Road: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Rajarathinam Nagar 4th Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarathinam Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajarathinam Nagar 1st Street?

The Sub Registrar Office that covers Rajarathinam Nagar 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajarathinam Nagar 1st Street?

The current guideline value of Rajarathinam Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. The value remained unchanged at Rs 2,000 per sq.ft from 2012 to 2023.

What are the guideline values for other streets in Kodungaiyur?

Other streets in Kodungaiyur have a guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with the median being Rs 2,700 per sq.ft. Rajarathinam Nagar 1st Street's value is below this median.

What are the stamp duty and registration fees for property in Rajarathinam Nagar 1st Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fee would amount to Rs 1,98,000.

Which office handles the registration for Rajarathinam Nagar 1st Street?

The Madhavaram Sub Registrar Office handles registrations for Rajarathinam Nagar 1st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.