Guideline Value for RAIL NAGAR 10ND STREET (WARD -2)

Rail Nagar 10nd Street (Ward -2) guideline value

The current guideline value of Rail Nagar 10nd Street (Ward -2) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Rail Nagar 10nd Street (Ward -2) has changed

The guideline value for Rail Nagar 10nd Street has seen several revisions over the years. The earliest available figure is from 2012, where the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017. In 2023, the value was revised to Rs 1,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 1,100 per sq.ft.

Between the revisions, notable changes include a 33% decrease from 2012 to 2017, a significant 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which is the same as the current value for Rail Nagar 10nd Street.

• Rail Nagar 11nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar 12nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar 13nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar, 13th Cross Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar 14nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar, 14th Cross Street (Ward -2): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rail Nagar 10nd Street (Ward -2)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rail Nagar 10nd Street (Ward -2)?

The Sub Registrar Office that covers Rail Nagar 10nd Street (Ward -2) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Ninna Karai, the guideline value is an essential metric used for determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which a property can be registered.

It is crucial for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rail Nagar 10nd Street (Ward -2)?

The current guideline value of Rail Nagar 10nd Street (Ward -2) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Rail Nagar 10nd Street?

Rail Nagar 10nd Street falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 and a registration fee of Rs 22,000.