Guideline Value for Sri Rajarajeswari Nagar

Sri Rajarajeswari Nagar guideline value

The current guideline value of Sri Rajarajeswari Nagar is Rs 935 per sq.ft, effective from 1 July 2024. This area is located in Malayambakkam village under the Kunrathur SRO, 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 850 per sq.ft, which then decreased to Rs 569 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 850 per sq.ft, followed by a further increase to Rs 935 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 is an increase of 10%.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 450 to Rs 2,750 per sq.ft. The median guideline value is Rs 935 per sq.ft, which matches the current value of Sri Rajarajeswari Nagar.

• Sri Rajeswari Nagar: Rs 935 per sq.ft (2024)
• Sri Ramiah Nagar: Rs 935 per sq.ft (2024)
• Sri Ranganathar Nagar: Rs 935 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,210 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 880 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 450 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 935 per sq.ft, the total guideline value amounts to Rs 9,35,000. The stamp duty at 7% would be Rs 65,450, and the registration fee at 2% would be Rs 18,700, bringing the total cost for these fees to Rs 84,150. It is important to note that stamp 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 based on your specific property.

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. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Malayambakkam. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded accurately.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sri Rajarajeswari Nagar?

The current guideline value for Sri Rajarajeswari Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then to Rs 850 per sq.ft in 2023, and finally to Rs 935 per sq.ft in 2024.

What is the land classification for Sri Rajarajeswari Nagar?

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

Where can I find the Sub Registrar Office for this area?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it covers Sri Rajarajeswari Nagar.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the same value. For example, a 1,000 sq.ft plot at Rs 935 per sq.ft incurs a total of Rs 84,150 in fees.