Guideline Value for RAJAJI NAGAR 2ND CROSS STREET

Rajaji Nagar 2nd Cross Street guideline value

The current guideline value of Rajaji Nagar 2nd Cross Street is Rs 8,250 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajaji Nagar 2nd Cross Street has changed

The guideline value for Rajaji Nagar 2nd Cross Street has undergone several revisions over the years. The earliest recorded value is from 2002, which was Rs 917 per sq.ft. This value increased to Rs 1,015 per sq.ft in 2003, marking an increase of 11%. The value saw a significant jump to Rs 1,800 per sq.ft in 2007, which was a 77% increase. In 2012, the value rose to Rs 7,500 per sq.ft, reflecting a 317% increase from the previous revision. However, this value decreased to Rs 5,025 per sq.ft in 2017, showing a decline of 33%. The value then increased substantially to Rs 7,500 per sq.ft in 2023, followed by a further increase to the current value of Rs 8,250 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 800%. There are no figures available for revisions in the years not mentioned in the register.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. The guideline value of Rajaji Nagar 2nd Cross Street is below this median.

• Rajaji Nagar 2nd Street: Rs 9,900 per sq.ft (2024)
• Rajaji Nagar 1st Street: Rs 9,900 per sq.ft (2024)
• Rajaji Nagar 1st Cross Street: Rs 9,900 per sq.ft (2024)
• Rajaji Nagar: Rs 9,900 per sq.ft (2024)
• Rajagopal Street: Rs 12,650 per sq.ft (2024)
• Rajaji Nagar Main Road: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,250 per sq.ft, the total guideline value would be Rs 82,50,000. The stamp duty at 7% would amount to Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, bringing the total to Rs 7,42,500. Please 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 details.

Which Sub Registrar Office covers Rajaji Nagar 2nd Cross Street?

The Sub Registrar Office that covers Rajaji Nagar 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Thiruvanmiyur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when buying or selling property. The higher of the guideline value or the sale price is taken into account for these calculations.

When a property is registered, the guideline value ensures that the transaction is recorded at a value that reflects the official rates set by the registration department. This helps maintain transparency and consistency in property transactions within the area.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 2nd Cross Street?

The current guideline value of Rajaji Nagar 2nd Cross Street is Rs 8,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 917 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, reflecting an overall increase of 800% over this period.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 82,50,000, the total stamp duty and registration fees would amount to Rs 7,42,500.

Which Sub Registrar Office covers Rajaji Nagar 2nd Cross Street?

The Chennai South Joint I Sub Registrar Office covers Rajaji Nagar 2nd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Rajaji Nagar 2nd Cross Street?

The land classification for Rajaji Nagar 2nd Cross Street is Residential Class II Type - I, indicating the type of residential development permitted in this area.