Guideline Value for Rajarathinam nagar

Rajarathinam nagar guideline value

The current guideline value of Rajarathinam nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Nasarathpettai village, under the Poonamallee SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rajarathinam nagar has changed

The guideline value for Rajarathinam nagar has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft. This figure saw a significant increase to Rs 1,200 per sq.ft in 2012, marking a rise of 300%. However, the value then dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The value increased again to Rs 1,200 per sq.ft in 2023, and most recently, it rose to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 340%. There are no figures available for the years 2002 and 2003 for this street.

Guideline values in Nasarathpettai

Nasarathpettai village has a total of 19 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which is equal to the current guideline value for Rajarathinam nagar.

• Periya chetti theru enkira gandhi street: Rs 1,320 per sq.ft (2024)
• Sathiyamoorthy Street: Rs 1,320 per sq.ft (2024)
• Padasalai Street: Rs 1,320 per sq.ft (2024)
• Shri Vaaru Avenue: Rs 1,320 per sq.ft (2024)
• Nataraja Nagar: Rs 1,320 per sq.ft (2024)
• Mettu Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarathinam 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, totaling 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajarathinam nagar?

The Sub Registrar Office that covers Rajarathinam nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions within Nasarathpettai. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area. The guideline value is established by the Registration Department and reflects the minimum value at which properties can be registered.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings and ensures compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Rajarathinam nagar?

The current guideline value of Rajarathinam nagar is Rs 1,320 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 300 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the stamp duty rate for properties in Rajarathinam nagar?

The stamp duty rate for properties in Rajarathinam nagar is 7% of the guideline value or the sale price, whichever is higher.

What are the registration fees for property transactions?

The registration fee for property transactions in Rajarathinam nagar is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajarathinam nagar?

The Sub Registrar Office for Rajarathinam nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.