Guideline Value for Sri Raja Rajaeswari Nagar

Sri Raja Rajaeswari Nagar guideline value

The current guideline value of Sri Raja Rajaeswari Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is located in Menambedu village, under the Ambattur SRO, and is classified as Residential Class V Type - I.

How the guideline value of Sri Raja Rajaeswari Nagar has changed

The guideline value for Sri Raja Rajaeswari Nagar has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was set at Rs 700 per sq.ft. This was followed by a decrease to Rs 469 per sq.ft in 2017. Subsequently, the value increased to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,002 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 113% from 2017 to 2023. The overall change from 2012 to 2024 reflects an increase of 43%.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, positioning Sri Raja Rajaeswari Nagar's 2024 figure below this median.

• Srinivasan Street (Ward 7): Rs 1,700 per sq.ft (2024)
• Srinivasan Street (Ward 6): Rs 1,700 per sq.ft (2024)
• Sri sastha Nagar: Rs 1,002 per sq.ft (2024)
• Sri Krishna Nagar: Rs 1,001 per sq.ft (2024)
• Sri Vinayagar Nagar: Rs 1,002 per sq.ft (2024)
• Station Road: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Raja Rajaeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, while the registration fee at 2% would be Rs 20,040, bringing the total costs together to Rs 90,180. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Raja Rajaeswari Nagar?

The Sub Registrar Office that covers Sri Raja Rajaeswari Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Menambedu. It is used as a benchmark for determining the stamp duty and registration fees when a property is bought or sold. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable duties.

When registering a property, it is essential to consider the guideline value, as it directly impacts the overall costs involved in the transaction. This ensures that all parties are aware of the financial obligations that come with property ownership in the area.

Frequently asked questions

What is the current guideline value of Sri Raja Rajaeswari Nagar?

The current guideline value of Sri Raja Rajaeswari Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 700 per sq.ft in 2012, decreasing to Rs 469 per sq.ft in 2017, then increasing to Rs 1,000 per sq.ft in 2023, and finally reaching Rs 1,002 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Sri Raja Rajaeswari Nagar?

For a property valued at Rs 10,02,000, the stamp duty would be Rs 70,140 and the registration fee would be Rs 20,040, totaling Rs 90,180.

Which Sub Registrar Office is responsible for Sri Raja Rajaeswari Nagar?

The Ambattur Sub Registrar Office is responsible for Sri Raja Rajaeswari Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Sri Raja Rajaeswari Nagar?

Sri Raja Rajaeswari Nagar is classified as Residential Class V Type - I, indicating its designation for residential use within the area.