Guideline Value for Rakesh Nagar

Rakesh Nagar guideline value

The current guideline value of Rakesh Nagar is Rs 1,000 per sq.ft, as per the 2023 revision. This area is located in Rathinamangalam village under the Gooduvancheri SRO, with a land classification of Residential Special Type - II.

How the guideline value of Rakesh Nagar has changed

The guideline value for Rakesh Nagar has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 525 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a 90% rise. However, the 2017 revision saw a decrease to Rs 670 per sq.ft, which was a drop of 33%. The most recent 2023 revision returned the guideline value to Rs 1,000 per sq.ft, reflecting a 49% increase from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 90%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 in the register for this street.

Guideline values in Rathinamangalam

Currently, there are no specific village figures available for Rathinamangalam. The guideline value for Rakesh Nagar is Rs 1,000 per sq.ft, and there are no other streets in Rathinamangalam listed under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Rakesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty, charged at 7%, would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rakesh Nagar?

The Sub Registrar Office that covers Rakesh Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Rathinamangalam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the official rates set by the government.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate taxes from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rakesh Nagar?

The current guideline value of Rakesh Nagar is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 90%, moving from Rs 525 per sq.ft to Rs 1,000 per sq.ft in 2012, then dropping to Rs 670 per sq.ft in 2017, and finally returning to Rs 1,000 per sq.ft in 2023.

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

For a property valued at the current guideline value of Rs 10,00,000, the stamp duty would be Rs 70,000, and the registration fee would be Rs 20,000, totaling Rs 90,000.

Which office handles registrations for Rakesh Nagar?

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

Is there any guideline value available for the years 2002 and 2003?

No, the guideline value register has no figures for Rakesh Nagar for the years 2002 and 2003.