Guideline Value for Rallys Nagar

Rallys Nagar guideline value

The current guideline value of Rallys Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kudalur village under the Madurandakam SRO and is classified as Residential Class I Type - I.

How the guideline value of Rallys Nagar has changed

The guideline value for Rallys Nagar has seen several revisions over the years. In 2007, the value was Rs 20 per sq.ft, which increased to Rs 70 per sq.ft in 2012. However, there was a significant drop to Rs 47 per sq.ft in 2017. From 2017 to 2023, the value surged to Rs 100 per sq.ft, maintaining the same rate in 2023 and again in 2024, resulting in no change between these two revisions.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Kudalur

In Kudalur, there are 10 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 299 per sq.ft, with the median being Rs 100 per sq.ft. The guideline value for Rallys Nagar aligns with this median.

• Rasi Nagar Phase-II: Rs 111 per sq.ft (2024)
• Sasi Nagar: Rs 100 per sq.ft (2024)
• Sri Mugambigai Nagar: Rs 100 per sq.ft (2024)
• Srinivasa Nagar: Rs 100 per sq.ft (2024)
• Madan City: Rs 100 per sq.ft (2024)
• Thirumalai Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Rallys Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rallys Nagar?

The Sub Registrar Office that covers Rallys Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kudalur. It serves as a reference point for determining the stamp duty and registration fees when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value helps in assessing the official value of the property, which can affect the overall cost of the transaction. This ensures that the government receives the appropriate revenue from property transactions within the region.

Frequently asked questions

What is the current guideline value of Rallys Nagar?

The current guideline value of Rallys Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 20 per sq.ft in 2007 to Rs 100 per sq.ft in both 2023 and 2024, with significant fluctuations in between.

What is the land classification of Rallys Nagar?

Rallys Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the registration fees for property in Rallys Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2%, calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Rallys Nagar located?

The Sub Registrar Office for Rallys Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.