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Guideline Value

Corporate

Guideline Value for RAIL NAGAR 8ND STREET (WARD -2)

₹1100/sq.ft.

The guideline value for Rail Nagar 8nd 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 8nd Street (ward -2)

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Rail Nagar 8nd Street (Ward -2) guideline value

The current guideline value of Rail Nagar 8nd Street (Ward -2) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO with a land classification of Residential Class I Type - I.

How the guideline value of Rail Nagar 8nd Street (Ward -2) has changed

The guideline value for Rail Nagar 8nd Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,000 per sq.ft. This value remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft, marking a 33% decline. However, the value rebounded to Rs 1,000 per sq.ft in 2012 and increased significantly to Rs 1,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 saw an increase to Rs 1,100 per sq.ft, a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. 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 that carry 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 equal to the 2024 figure for Rail Nagar 8nd Street.

Stamp duty and registration fee for property in Rail Nagar 8nd 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 amounts to Rs 11,00,000. The stamp duty, calculated at 7%, would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rail Nagar 8nd Street (Ward -2)?

The Chengleput Joint II Sub Registrar Office covers Rail Nagar 8nd Street (Ward -2). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It is used to determine the stamp duty and registration fees applicable on the transaction. Buyers need to be aware that these fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives its due revenue from property transactions.

When engaging in property transactions, it is essential to refer to the current guideline values to understand the financial implications. This helps in making informed decisions regarding property purchases and sales in the region.

Frequently asked questions

What is the current guideline value of Rail Nagar 8nd Street (Ward -2)?

The current guideline value of Rail Nagar 8nd 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. This reflects various increases and decreases across the revisions.

What is the land classification for Rail Nagar 8nd Street (Ward -2)?

Rail Nagar 8nd Street (Ward -2) is classified as Residential Class I Type - I. This classification indicates the type of development permissible in the area.

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 property registrations for the area.

How is stamp duty calculated for properties in Rail Nagar 8nd Street (Ward -2)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.