Guideline Value for Rajmohan Nagar

Rajmohan Nagar guideline value

The current guideline value of Rajmohan Nagar, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Rajmohan Nagar has changed

The guideline value for Rajmohan Nagar has undergone several revisions over the years. In 2002, the value was Rs 153 per sq.ft, which increased to Rs 189 per sq.ft in 2003, marking a 24% rise. The value then saw a significant increase to Rs 400 per sq.ft in 2007, representing a 112% change. Following this, the value surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable 400% increase. However, it fell to Rs 1,340 per sq.ft in 2017, indicating a decrease of 33%. The value then climbed to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,338%. There are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Rajmohan Nagar's 2024 figure below that median.

• Raju Street: Rs 2,200 per sq.ft (2024)
• Ramakrishna Nagar Extension: Rs 1,320 per sq.ft (2024)
• Ramakrishnan Nagar: Rs 1,320 per sq.ft (2024)
• Ramakrishnan Street: Rs 6,600 per sq.ft (2024)
• Raji Road/Street: Rs 4,400 per sq.ft (2024)
• Ramasamy Pandithar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajmohan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, this would total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajmohan Nagar?

The Sub Registrar Office that covers Rajmohan Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Tambaram. It is used to determine the stamp duty and registration fees applicable during the transaction process. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is registered, the guideline value serves as a benchmark for calculating the applicable fees. It is essential to understand that the fees are based on the higher value between the guideline value and the actual sale price, ensuring that the correct amount is paid during the registration process.

Frequently asked questions

What is the current guideline value of Rajmohan Nagar?

The current guideline value of Rajmohan Nagar 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 153 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 1,338%.

What is the land classification for Rajmohan Nagar?

Rajmohan Nagar is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Rajmohan Nagar?

The Sub Registrar Office for Rajmohan Nagar is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Rajmohan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.