Guideline Value for SRI RAJARAJESWARI NAGAR

Sri Rajarajeswari Nagar guideline value

The current guideline value of Sri Rajarajeswari Nagar, located in Kolacheri village, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Sri Rajarajeswari Nagar has changed

The guideline value for Sri Rajarajeswari Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased to Rs 600 per sq.ft in the 2023 revision, and finally rose to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolacheri

In Kolacheri, there are 13 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 2,450 per sq.ft. The median value for these streets is Rs 660 per sq.ft, which is equal to the current guideline value of Sri Rajarajeswari Nagar.

• Sri Ponniamman Nagar: Rs 660 per sq.ft (2024)
• Sri Panjali Amman Nagar: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar Phase I: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar & Extn: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar Annexe: Rs 660 per sq.ft (2024)
• Sri Janani Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Rajarajeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. 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 Sri Rajarajeswari Nagar?

The Sub Registrar Office that covers Sri Rajarajeswari Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolacheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, 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 ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Rajarajeswari Nagar?

The current guideline value of Sri Rajarajeswari Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the classification of land in Sri Rajarajeswari Nagar?

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200, and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles property registration in Sri Rajarajeswari Nagar?

The Kunrathur Sub Registrar Office handles property registration for Sri Rajarajeswari Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.