Guideline Value for Roja Nagar Part -II

Roja Nagar Part -II guideline value

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

How the guideline value of Roja Nagar Part -II has changed

The guideline value for Roja Nagar Part -II has seen several revisions over the years. In 2007, the value was Rs 35 per sq.ft, which increased to Rs 70 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 47 per sq.ft in 2017, a decline of 33%. The value rose significantly to Rs 100 per sq.ft in both the 2023 and 2024 revisions, resulting in a 113% increase from 2017 to 2023, but no change from 2023 to 2024.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 186%.

Guideline values in Morapakkam

Within Morapakkam village, there are 12 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median of Rs 200 per sq.ft. The guideline value for Roja Nagar Part -II is below this median.

• Roja Nagar Part -I: Rs 100 per sq.ft (2024)
• Krishna Nagar: Rs 200 per sq.ft (2024)
• Krishna Avenue Ext - I: Rs 200 per sq.ft (2024)
• Krishna Avenue Extension-I: Rs 200 per sq.ft (2024)
• Yoga Lakshmi Nagar: Rs 200 per sq.ft (2024)
• J K Avenue: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Roja Nagar Part -II

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 amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, making a total of Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Roja Nagar Part -II?

The Roja Nagar Part -II area falls under 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 Morapakkam

The guideline value is a critical component in the registration process for property transactions in Morapakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation set by the government.

When buying or selling property, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Roja Nagar Part -II?

The current guideline value of Roja Nagar Part -II 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 35 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, representing a total increase of 186% over the years.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate has a total cost of Rs 9,000 in fees.

Which office handles registrations for Roja Nagar Part -II?

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

What is the land classification for Roja Nagar Part -II?

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