Guideline Value for Rose Nagar

Rose Nagar guideline value

The current guideline value of Rose Nagar is Rs 1,003 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rose Nagar has changed

The guideline value for Rose Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, this value dropped to Rs 536 per sq.ft in the 2017 revision. The most recent revision in 2024 has seen the guideline value rise to Rs 1,003 per sq.ft, marking an increase of 87% from the 2017 figure.

From 2007 to 2012, the guideline value increased by 167%. Following this, the drop from 2012 to 2017 represented a decrease of 33%. Overall, from 2007 to 2024, there has been a substantial increase of 234% in the guideline value for Rose Nagar.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median value is Rs 1,003 per sq.ft, which is the same as the guideline value for Rose Nagar.

• Razaaq Industrial Garden: 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 Rose Nagar

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 at 7% would be Rs 70,210, and the registration fee at 2% would be Rs 20,060, bringing the total cost to Rs 90,270. 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 Rose Nagar?

The Sub Registrar Office that covers Rose Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Vadaperumbakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees payable at the time of registration.

When buying or selling property, the guideline value serves as a benchmark for the transaction. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the actual sale price, ensuring that the registration process is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Rose Nagar?

The current guideline value of Rose Nagar 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 300 per sq.ft in 2007 to Rs 1,003 per sq.ft in 2024, representing an overall increase of 234%.

What are the other streets in Vadaperumbakkam with the same guideline value?

Other streets in Vadaperumbakkam with the same guideline value of Rs 1,003 per sq.ft include Razaaq Industrial Garden, Samuel Nagar, Samuel Nagar Extn., and Samuel Nagar Part.

What is the registration fee for property in Rose Nagar?

The registration fee for property in Rose Nagar is calculated based on the guideline value, which is Rs 1,003 per sq.ft. The fees include a stamp duty at 7% and a registration fee at 2%.

Where is the Sub Registrar Office for Rose Nagar located?

The Sub Registrar Office for Rose Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.