Guideline Value for RAJA AVENUE

Raja Avenue guideline value

The current guideline value of Raja Avenue, located in Enjambakkam village under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Raja Avenue has changed

The guideline value for Raja Avenue has seen several revisions over the years. In 2003, the value was Rs 112 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. This was a remarkable increase of 346%. The value then rose dramatically to Rs 2,000 per sq.ft in 2012, marking a 300% increase from the previous revision. However, this was followed by a decrease to Rs 1,340 per sq.ft in 2017, which represented a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 2,000 per sq.ft, reflecting a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, indicating a 10% increase from the previous year. It is important to note that the register has no figure for Raja Avenue for the year 2002.

Guideline values in Enjambakkam

In Enjambakkam, there are a total of 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current guideline value for Raja Avenue.

• Radiance Paradise: Rs 6,600 per sq.ft (2024)
• Raja Meenakshi Street: Rs 4,500 per sq.ft (2024)
• Rajan Nagar 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Rajan Nagar 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Rajan Nagar 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Rajan Nagar Salai: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 Raja Avenue?

The Sub Registrar Office covering Raja Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Enjambakkam. It serves as the baseline value for calculating stamp duty and registration fees, ensuring that these costs are proportionate to the property's value.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the property's assessed value in the market.

Frequently asked questions

What is the current guideline value of Raja Avenue?

The current guideline value of Raja Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 112 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing a significant increase over the years.

What is the median guideline value in Enjambakkam?

The median guideline value in Enjambakkam is Rs 2,200 per sq.ft, which is the same as the current guideline value for Raja Avenue.

What fees are associated with buying property in Raja Avenue?

When buying property in Raja Avenue, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Raja Avenue located?

The Neelankarai Sub Registrar Office, which covers Raja Avenue, is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.