Guideline Value for RAJALAKSHMI AVENUE 1ST STREET (CROSS STREET)

Rajalakshmi Avenue 1st Street (Cross Street) guideline value

The current guideline value of Rajalakshmi Avenue 1st Street (Cross Street) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Rajalakshmi Avenue 1st Street (Cross Street) has changed

The guideline value has undergone several revisions since 2007. In 2007, the value was Rs 1,795 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a 67% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a 33% decline. The value saw significant growth thereafter, reaching Rs 3,000 per sq.ft in 2023, an increase of 49% from the 2017 figure. The latest revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 84%.

Guideline values in Perungudi

In Perungudi, a total of 249 streets under the Neelankarai SRO have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is the same as the guideline value for Rajalakshmi Avenue 1st Street (Cross Street). Below are other streets in Perungudi with their respective guideline values:

• Rajalakshmi Avenue 2nd Street (Cross Street): Rs 3,300 per sq.ft (2024)
• Rajalakshmi Avenue 3rd Street (Cross Street): Rs 3,300 per sq.ft (2024)
• Rajalakshmi Avenue 4th Street (Cross Street): Rs 3,300 per sq.ft (2024)
• Rajalakshmi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalakshmi Avenue 1st Street (Cross Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 Rajalakshmi Avenue 1st Street (Cross Street)?

The Sub Registrar Office that covers Rajalakshmi Avenue 1st Street (Cross 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 Perungudi

The guideline value is a crucial factor in property transactions in Perungudi, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. Proper understanding of these values can help facilitate smoother transactions in the real estate market.

Frequently asked questions

What is the current guideline value of Rajalakshmi Avenue 1st Street (Cross Street)?

The current guideline value of Rajalakshmi Avenue 1st Street (Cross Street) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,795 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 84% over the years.

What is the land classification of Rajalakshmi Avenue 1st Street (Cross Street)?

Rajalakshmi Avenue 1st Street (Cross Street) is classified as Residential Class II Type - II.

What are the registration fees based on the guideline value?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000 for these fees.

Where can I find the Sub Registrar Office for this area?

The Neelankarai Sub Registrar Office covers Rajalakshmi Avenue 1st Street (Cross Street) and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.