Guideline Value for RAJALAKSHMI AVENUE 3RD STREET (CROSS STREET)

Rajalakshmi Avenue 3rd Street (Cross Street) guideline value

The current guideline value of Rajalakshmi Avenue 3rd 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 falls under the Residential Class II Type - II land classification.

How the guideline value of Rajalakshmi Avenue 3rd Street (Cross Street) has changed

Over the years, the guideline value of Rajalakshmi Avenue 3rd Street has seen several revisions. The 2007 revision set the value at Rs 1,795 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, this figure saw a decrease of 33% by the 2017 revision, bringing it down to Rs 2,010 per sq.ft. The value then rose significantly to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 has further increased it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year. The register has no figure for this street in 2002 and 2003.

In summary, from 2007 to 2024, the overall change in the guideline value is an increase of 84%. The changes between revisions include a 67% increase from 2007 to 2012, followed by a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Rajalakshmi Avenue 3rd Street.

• Rajalakshmi Avenue 2nd Street (Cross Street): Rs 3,300 per sq.ft (2024)
• Rajalakshmi Avenue 4th Street (Cross Street): Rs 3,300 per sq.ft (2024)
• Rajalakshmi Avenue 1st 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 3rd Street (Cross Street)

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajalakshmi Avenue 3rd Street (Cross Street)?

The Sub Registrar Office that covers Rajalakshmi Avenue 3rd 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 plays a crucial role in the registration process of property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately and fairly.

When buyers and sellers engage in a property transaction, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Rajalakshmi Avenue 3rd Street?

The current guideline value of Rajalakshmi Avenue 3rd 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 are the other streets in Perungudi with the same guideline value?

Other streets in Perungudi with the same guideline value of Rs 3,300 per sq.ft include Rajalakshmi Avenue 1st Street, Rajalakshmi Avenue 2nd Street, Rajalakshmi Avenue 4th Street, Rajalakshmi Nagar 5th Street, Rajiv Nagar 2nd Cross Street, and Rajiv Nagar 2nd Main Road.

What is the stamp duty rate for properties in Rajalakshmi Avenue 3rd Street?

The stamp duty rate for properties in Rajalakshmi Avenue 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajalakshmi Avenue 3rd Street?

The Sub Registrar Office covering Rajalakshmi Avenue 3rd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.