Guideline Value for RAJALAKSHMI AVENUE 4TH STREET (CROSS STREET)

Rajalakshmi Avenue 4th Street (Cross Street) guideline value

The current guideline value for Rajalakshmi Avenue 4th 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, classified as Residential Class II Type - II.

How the guideline value of Rajalakshmi Avenue 4th Street (Cross Street) has changed

The guideline value has seen several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 1,795 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, marking a 67% rise. However, between 2012 and 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The value then surged by 49% to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that the guideline register does not have figures 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, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Rajalakshmi Avenue 4th Street (Cross Street).

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

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

Which Sub Registrar Office covers Rajalakshmi Avenue 4th Street (Cross Street)?

The Sub Registrar Office that covers Rajalakshmi Avenue 4th 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 the registration process of property transactions in Perungudi. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, both parties must agree on a sale price that meets or exceeds the guideline value. This ensures compliance with local regulations and helps in the proper documentation of the transaction.

Frequently asked questions

What is the current guideline value for Rajalakshmi Avenue 4th Street?

The current guideline value for Rajalakshmi Avenue 4th 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?

Several other streets in Perungudi also carry a guideline value of Rs 3,300 per sq.ft in 2024, including Rajalakshmi Avenue 1st, 2nd, and 3rd Streets, as well as Rajiv Nagar 2nd Cross Street and Rajiv Nagar 2nd Main Road.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is 7% of the guideline value or sale price, whichever is higher.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.