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Guideline Value

Corporate

Guideline Value for RAIL NAGAR 7ND STREET (WARD -2)

₹1100/sq.ft.

The guideline value for Rail Nagar 7nd Street (ward -2) in Ninna Karai village (Chengleput Joint Ii SRO, Chengalpattu zone) is Rs 1100 per sq.ft, effective 1 July 2024. It was Rs 1000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Ninna Karai

Village

Chengleput Joint II

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹1100 /sq.ft.
From 1-4-2023 ₹1000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹670 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

10, Kancheepuram Main Road, Chengalpattu 603 002.
044-27422003
[email protected]

DRO (District Registrar Office)

No.10, Kancheepuram High Road, Chengalpet - 603002
044-27423692
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Rail Nagar 7nd Street (ward -2)

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Rail Nagar 7nd Street (Ward -2) guideline value

The current guideline value of Rail Nagar 7nd 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 is classified as Residential Class I Type - I.

How the guideline value of Rail Nagar 7nd Street (Ward -2) has changed

The guideline value for Rail Nagar 7nd Street has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 1,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, there have been notable changes: from 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. The guideline value rose by 10% from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Ninna Karai

Ninna Karai village has 449 streets under the Chengleput Joint II SRO with a 2024 guideline value 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 2024 figure for Rail Nagar 7nd Street.

Stamp duty and registration fee for property in Rail Nagar 7nd 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 be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. Please note that the 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 further calculations.

Which Sub Registrar Office covers Rail Nagar 7nd Street (Ward -2)?

The Sub Registrar Office that covers Rail Nagar 7nd 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

The guideline value is a crucial factor in property transactions in Ninna Karai. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of their property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guidelines set by the Registration Department.

Frequently asked questions

What is the current guideline value of Rail Nagar 7nd Street (Ward -2)?

The current guideline value of Rail Nagar 7nd 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 multiple times, starting from Rs 1,000 per sq.ft in 2012, dropping to Rs 670 per sq.ft in 2017, and then rising to Rs 1,000 per sq.ft in 2023, finally reaching Rs 1,100 per sq.ft in 2024.

What is the land classification for Rail Nagar 7nd Street (Ward -2)?

Rail Nagar 7nd Street (Ward -2) is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total cost of Rs 99,000 in fees.

Where is the Sub Registrar Office for Rail Nagar 7nd Street (Ward -2)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Rail Nagar 7nd Street (Ward -2).