Guideline Value for Roja Nagar Part -I

Roja Nagar Part -I guideline value

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

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

Over the years, the guideline value for Roja Nagar Part -I has seen several revisions. The earliest recorded value was Rs 35 per sq.ft in 2007. This increased to Rs 70 per sq.ft in 2012, followed by a decrease to Rs 47 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the value at Rs 100 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, there was a significant increase of 113%, while the value remained unchanged from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has risen by 186%.

Guideline values in Morapakkam

In 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 value of Rs 200 per sq.ft. The guideline value for Roja Nagar Part -I is below this median.

• Roja Nagar Part -II: 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 -I

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, leading to 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 details.

Which Sub Registrar Office covers Roja Nagar Part -I?

The Sub Registrar Office covering Roja Nagar Part -I 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 further assistance.

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

The guideline value plays a crucial role during property transactions in Morapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable when registering a sale. Buyers and sellers must be aware that the guideline value is used to assess the official value of the property for taxation purposes.

When a property is sold, the guideline value is compared to the actual sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

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

The current guideline value of Roja Nagar Part -I 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, reflecting an overall increase of 186% since 2007.

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

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

Where can I find the Sub Registrar Office for Roja Nagar Part -I?

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

How is stamp duty calculated for properties in Roja Nagar Part -I?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 1,00,000 would incur a stamp duty of Rs 7,000 at 7%.