Guideline Value for RAJA MEENAKSHI STREET

Raja Meenakshi Street guideline value

The current guideline value of Raja Meenakshi Street is Rs 4,500 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - IV.

How the guideline value of Raja Meenakshi Street has changed

The guideline value for Raja Meenakshi Street has undergone several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 2,680 per sq.ft. This increased to Rs 4,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 4,500 per sq.ft, reflecting a 13% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 68%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value is Rs 2,200 per sq.ft, and Raja Meenakshi Street's current value is above this median.

• 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)
• Raja Avenue: Rs 2,200 per sq.ft (2024)
• Rajendra Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Meenakshi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,500 per sq.ft, the total guideline value amounts to Rs 45,00,000. The stamp duty at 7% would be Rs 3,15,000, and the registration fee at 2% would be Rs 90,000, totaling Rs 4,05,000. Please 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 Meenakshi Street?

The Sub Registrar Office that covers Raja Meenakshi Street 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 is an essential factor in property transactions in Enjambakkam. It serves as a reference point for calculating the stamp duty and registration fees that buyers must pay when registering a property. The guideline value ensures that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. It is crucial for buyers to be aware of this value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Raja Meenakshi Street?

The current guideline value of Raja Meenakshi Street is Rs 4,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,680 per sq.ft in 2017 to Rs 4,500 per sq.ft in 2024, marking an overall increase of 68% over these years.

What is the stamp duty for property on Raja Meenakshi Street?

The stamp duty for property on Raja Meenakshi Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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

What are the guideline values of other streets in Enjambakkam?

Other streets in Enjambakkam have varying guideline values, with rates ranging from Rs 1,100 to Rs 7,200 per sq.ft. For example, Rajan Nagar 1st Cross Street has a value of Rs 1,700 per sq.ft in 2024.