Guideline Value for Razaaq Industrial Garden

Razaaq Industrial Garden guideline value

The current guideline value of Razaaq Industrial Garden is Rs 1,003 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village, under the jurisdiction of the Redhills SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Razaaq Industrial Garden has changed

The guideline value for Razaaq Industrial Garden has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 800 per sq.ft. This figure saw a decrease in the 2017 revision to Rs 536 per sq.ft, marking a decline of 33%. However, the most recent 2024 revision has increased the value significantly to Rs 1,003 per sq.ft, which is an increase of 87% from the 2017 figure.

Overall, comparing the 2012 revision to the 2024 revision, there has been a 25% increase in the guideline value. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, which is the same as the current value for Razaaq Industrial Garden.

• Rose Nagar: Rs 1,003 per sq.ft (2024)
• Samuel Nagar: Rs 1,003 per sq.ft (2024)
• Samuel Nagar Extn.: Rs 1,003 per sq.ft (2024)
• Samuel Nagar Part: Rs 1,003 per sq.ft (2024)
• Samuel Nagar Part-I: Rs 1,000 per sq.ft (2024)
• Samuvel Nagar Part-II: Rs 1,003 per sq.ft (2024)

Stamp duty and registration fee for property in Razaaq Industrial Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,003 per sq.ft, the total guideline value would be Rs 10,03,000. The stamp duty, charged at 7%, would amount to Rs 70,210, and the registration fee at 2% would be Rs 20,060. Therefore, the total cost for stamp duty and registration fees would be Rs 90,270. It is important to note that 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 Razaaq Industrial Garden?

The Razaaq Industrial Garden falls under the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a critical factor when registering property transactions in Vadaperumbakkam. It serves as a benchmark for determining the minimum value at which property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value will be used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Razaaq Industrial Garden?

The current guideline value of Razaaq Industrial Garden is Rs 1,003 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, and then to Rs 1,003 per sq.ft in 2024. This represents a significant increase from the 2017 figure.

What are the other streets with similar guideline values in Vadaperumbakkam?

Other streets in Vadaperumbakkam also have guideline values of Rs 1,003 per sq.ft, including Rose Nagar, Samuel Nagar, Samuel Nagar Extn., and Samuel Nagar Part. Samuel Nagar Part-I has a guideline value of Rs 1,000 per sq.ft.

What is the registration office for Razaaq Industrial Garden?

The registration office for Razaaq Industrial Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 90,270.