Guideline Value for Rajathi Kalaigar Nagar

Rajathi Kalaigar Nagar guideline value

The current guideline value of Rajathi Kalaigar Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This locality is situated in Mannivakkam village, under the jurisdiction of the Gooduvancheri SRO, and is classified as Residential Special Type - III.

How the guideline value of Rajathi Kalaigar Nagar has changed

The guideline value for Rajathi Kalaigar Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 265 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, this value decreased to Rs 804 per sq.ft in the 2017 revision. The 2023 revision raised the guideline value to Rs 1,200 per sq.ft, and the most recent 2024 revision has further increased it to Rs 1,320 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2012, the value increased by 353%, followed by a decrease of 33% from 2012 to 2017. The value then saw a substantial increase of 49% from 2017 to 2023. The jump from 2023 to 2024 is 10%, resulting in an overall increase of 398% from the 2007 revision to the current 2024 guideline value.

Guideline values in Mannivakkam

Mannivakkam features a range of guideline values across its 118 streets under the Gooduvancheri SRO, with values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value in this area is Rs 1,215 per sq.ft, placing Rajathi Kalaigar Nagar's 2024 figure above this median.

• Rajiv Street: Rs 1,100 per sq.ft (2024)
• Ramakrishna Nagar: Rs 1,110 per sq.ft (2024)
• Ramakrishna Salai: Rs 1,540 per sq.ft (2024)
• Ram Nagar: Rs 1,320 per sq.ft (2024)
• Ram Nagar Extn: Rs 1,325 per sq.ft (2024)
• Ponnusamy Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rajathi Kalaigar 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, while the registration fee at 2% would be Rs 26,400, leading to a total of Rs 1,18,800 for these charges. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajathi Kalaigar Nagar?

The Gooduvancheri Sub Registrar Office covers Rajathi Kalaigar Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid by the buyer at the time of registration.

When a property is bought or sold, the guideline value helps in ensuring that the transaction is transparent and that the appropriate taxes are levied based on the official rates set by the government. This process helps maintain uniformity in property transactions across the region.

Frequently asked questions

What is the current guideline value of Rajathi Kalaigar Nagar?

The current guideline value of Rajathi Kalaigar 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 265 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 398% over the years.

What is the median guideline value in Mannivakkam?

The median guideline value in Mannivakkam is Rs 1,215 per sq.ft, with Rajathi Kalaigar Nagar's current value being above this median.

What are the stamp duty and registration fees for properties in Rajathi Kalaigar Nagar?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for Rajathi Kalaigar Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations for Rajathi Kalaigar Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202.