Guideline Value for Rasi Nagar

Rasi Nagar guideline value

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

How the guideline value of Rasi Nagar has changed

Over the years, the guideline value of Rasi Nagar has seen several revisions. The earliest recorded revision was in 2007, with a value of Rs 20 per sq.ft. This increased significantly to Rs 80 per sq.ft in 2012, followed by a decrease to Rs 54 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the value at Rs 100 per sq.ft, indicating no change from the previous year.

In summary, from 2007 to 2012, the guideline value increased by 300%, then decreased by 33% from 2012 to 2017. There was an 85% increase from 2017 to 2023, and finally, the value remained unchanged from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 400%.

Guideline values in Puthupattu

In Puthupattu, there are six streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Rasi Nagar's 2024 figure below that median.

• Sriram Society Nagar: Rs 250 per sq.ft (2024)
• Vijai Raja Nagar: Rs 250 per sq.ft (2024)
• Vijaj Raja Nagar: Rs 250 per sq.ft (2024)
• Giri Nagar: Rs 100 per sq.ft (2024)
• Vasanthi Gopalan Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Rasi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be 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 fees to Rs 9,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rasi Nagar?

The Sub Registrar Office that covers Rasi 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 details.

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

The guideline value is a crucial factor when buying or selling property in Puthupattu. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of registration. The value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rasi Nagar?

The current guideline value of Rasi 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 significantly from Rs 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, with various increases and decreases in between.

What are the stamp duty and registration fees for property in Rasi Nagar?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000, and the registration fee would be Rs 2,000, totaling Rs 9,000.

Which office handles property registrations in Rasi Nagar?

The Madurandakam Sub Registrar Office handles property registrations for Rasi Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the guideline value used during property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher value between the guideline and the sale price is considered for calculating these fees.