Guideline Value for Sri Rajarajeswari Nagar

Sri Rajarajeswari Nagar guideline value

The current guideline value of Sri Rajarajeswari Nagar in Kolumanivakkam village is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Kunrathur SRO and is classified as Residential Special Type - III.

How the guideline value of Sri Rajarajeswari Nagar has changed

The guideline value of Sri Rajarajeswari Nagar has undergone several revisions over the years. The earliest recorded value was Rs 150 per sq.ft in 2007. This increased significantly to Rs 800 per sq.ft in 2012, marking a substantial rise of 433%. However, the value then decreased to Rs 536 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 800 per sq.ft in 2023, and most recently, it increased to Rs 880 per sq.ft in 2024, reflecting a 10% increase.

Between 2017 and 2023, the guideline value saw a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 487%. There are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,290 per sq.ft, with a median value of Rs 1,350 per sq.ft. The guideline value of Sri Rajarajeswari Nagar is below this median.

• Sri Ram Nagar: Rs 1,350 per sq.ft (2024)
• Srinivasa Nagar: Rs 880 per sq.ft (2024)
• Srinath Nagar: Rs 1,930 per sq.ft (2024)
• Sri Maruthi Nagar: Rs 880 per sq.ft (2024)
• Sri Thirupathi Nagar Phase II & III: Rs 1,350 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,350 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total cost for stamp duty and registration Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

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 information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kolumanivakkam. It helps determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, 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 registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Sri Rajarajeswari Nagar?

The current guideline value of Sri Rajarajeswari Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 487% over the years.

What is the land classification for Sri Rajarajeswari Nagar?

Sri Rajarajeswari Nagar is classified as Residential Special Type - III under the guideline value register.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Sri Rajarajeswari Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Kunrathur SRO?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information about it online.