Guideline Value for Sri Rajarajeswari Nagar

Sri Rajarajeswari Nagar guideline value

The current guideline value of Sri Rajarajeswari Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Sundaracholavaram village and falls 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. In 2007, the value was Rs 298 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. Following this, the value rose significantly to Rs 800 per sq.ft in 2023, and finally reached Rs 880 per sq.ft in the 2024 revision. The register has no figure for this street in 2002 and 2003.

Between the revisions, there have been notable changes. The increase from 2017 to 2023 was 49%, while the change from 2012 to 2017 saw a decrease of 33%. The value surged by 168% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 195%.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,600 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value of Sri Rajarajeswari Nagar is above this median.

• Sri Omsakthi Nagar: Rs 660 per sq.ft (2024)
• Sri Satheswari Nagar: Rs 660 per sq.ft (2024)
• Sri Sathya Sai Nagar: Rs 660 per sq.ft (2024)
• Sri Murugan Nagar: Rs 550 per sq.ft (2024)
• Sri L.K.B. Nagar Annuxe: Rs 660 per sq.ft (2024)
• Sri Deivanayagi 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, 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 information.

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

The guideline value is a critical factor in the registration process of property transactions in Sundaracholavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price in relation to the registered value.

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 has the guideline value changed over the years?

The guideline value has changed from Rs 298 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, with several revisions in between, including a decrease in 2017 and increases in 2023 and 2024.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles property registration for 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.

What is the land classification of Sri Rajarajeswari Nagar?

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